There is no problem with the basic dc to dc buck converter power circuit working at no-load in real life. Try out one in open-loop mode without the output LC filter . The problem is with the output LC filter. Since there is no continuous current through the inductor, the capacitor voltage is not defined and will try to charge up to the peak input voltage, with no load connected across it to discharge it. That is why in real life 'bleeder resistances' are connected across the output such that even though no external load is connected, the converter sees a minimum load for stable operation.