Jabong.com - Jabong product quality not good and no refund of it either

I do understand that not all products sold online are good. They can make a defective product look good by better photos and hike the price of an unworthy product by decreasing it later by telling it is on sale. Please note the norms in Jabong site is not ethical.
As per India online guidelines, I have never seen a company stating we would not refund the amount when the product is not good when not like the customer. But in their protocol, they state " We would not refund the amount, but replace the product". I would like to clarify this.
Why would any company replace a defective/unworthy product by another unworthy product? Does it make sense? This is in regard to my purchase of order - *********************. I ordered */* shorts are not worth even INR ***. The irony is you hype the price to INR **** and sale for INR ***. What logic is this, is it worth the price? Be true and genuine in refunding the amount when we customers do not like when the quality is bad. I have never seen in my history, an online company telling, we would not refund it. That shows how bad you are the policy of a company. Please let me know what action is being taken on this. "A true online sell is where you maintain customers to want to buy and return when the product is not good".