I think as a casual player you can still benefit a lot from PP, without pledging. Pledging and following the goals of the powers will take a lot of time of course, but a lot of bonuses are there for everyone. Think Li Yong's 15% outfitting bonus, or Lavigny-Duval's 20% bounty bonus, the trade bonuses of various powers etc. Especially if you don't have a lot of time - these bonuses really help with your progression!
The decay is really punishing for anyone who lacks time to play a few hours every night just to farm enough to KEEP standing, not to mention to grind up just to reach rank 3 in order to get hold of a faction locked module.
I would have no issue with decay if I could at least accumulate my daily points and use them - but having to sit and collect the 30 minute pittance is not a fun way for non-combat followers to assist the faction.
In theory, with 3 hours every night of collecting faction supplies every 30 minutes at rank 2 I should get 90 points each day.
That's 630 points every week.
Lets assume I went from a 200 points from rank 1 to Rank 2, collected 100 points from that week and needed 650 points to reach rank 3. If I miss 2 days playtime in collecting my supplies I would FAIL to reach rank 3 by 200 points.
IF I fail I now have 275 ((100/2)+(450/2)) points allocated and need 475 points to reach rank 3. I now need to play 6 days to collect the points.
I have no problem with this being a long-term goal to reach a rank but as it stands a casual player or someone with limited playtime will not easily gain anythign above rank 3.
Decay is not a bad thing but perhaps it should be based on the points you accumulate instead of a flat decay to represent that the higher up you get more is demanded of you.
Rank 1: -10% per Week
Rank 2: -15% per Week
Rank 3: -20% per Week
Rank 4: -25% per Week
Rank 5: -30% per Week
Payout per week could also be based on the points accumulated (example below)
Rank 1: Merit X 10 per Week = Max 1 000c
Rank 2: Merit X 250 per Week = Max 50 000c
Rank 3: Merit X 666 per Week = Max 500 000c
Rank 4: Merit X 2000 per Week = Max 5 000 000c
Rank 5: Merit X 5000 per Week = Max 50 000 000c
So someone at Rank 3 with failing to reach rank 4 but had 1750 merits would gain:
500 000 for rank 3 (Max merits)
2000 000 for rank 4 (1000m X 2000c)