Either actually.
If i board a ship as a highjacker, go to the bed and set it as my spawn point, but then the ship owner/friends kill me, i'll spawn in the bed and get stuck in the repawn/kill loop. Unless the owners of the ship want to let a highjacker get up and run around.
And technically, if a player lays down in the bed while someone is also spawning in at the same time, the spawning player will go back to their default spawn at a station. But I don't really want to lay down and be defenseless when a highjacking is taking place.