There is a way it could work. If FD were prepared to put in the effort to code it that way, I'd be for it. However I don't think it will happen so I remain against player-owned installations existing in the game.
The ONLY way I'd support it is if the player-owned station contained not even the tiniest hint of territorial control. No BGS activity (so no faction presence, no market, etc) No restriction on who can dock there - meaning that the "instance size" of "your" base would be restricted to the number of docking pads you installed. I'd be fine with you being able to store modules and cargo there that you'd purchased elsewhere but nobody else would be able to outfit there or load any of that cargo. (although that restriction might be a little fuzzy - if you and a buddy are both docked at the your base you might be able to give them some of what you got stored - that wouldn't break anything) Anyone can dock and refuel at "your" base IF you pay for maintenance of a refueling facility. (If you do, then of course you personally refuel there for free) There is no NPC security presence - again, unless you pay for it and pay to build their support facilities. There isn't even a no fire zone unless you bought the guns with which your base tries to enforce that. If you build it in an unpopulated system even the option of paying for NPC security isn't available to you, because you have to buy it from the local ruling NPC faction. If there isn't one, there aint nowhere to buy it from.
Basically, the moment any kind of player-generated base influences the BGS or PP or any other element of the "galactic story" in ANY WAY WHATSOEVER or imposes ANY kind of territorial control, my support for it evaporates. Up to that point, however, if FD want to code it I'd probably build one.
This is pretty much what I had in mind.. I like the idea of players only being able to own planetary outposts.
I would like to have "my" home. I would like the computerized ATC (like engineer bases have) to speak to me as though this is my home. The Human ATC at the station I stay at drives me insane when they tell me to enjoy my visit, dude, I have 2Billion credits worth of ships parked here and I'm here more than I'm anywhere else in the galaxy. How about a little acknowledgement.
I don't want to have any sort of market or mission board, or any of the current contacts options. I don't want my base to be vulnerable to other players, the same way that the current NPC stations are not vulnerable to players. I would rather not have any NPC activity around my base, although the idea of hiring local faction NPC security sounds interesting. The bottom line is, at some point I'm going to go to Jaques, or Sag A, or Beagle and I don't want to worry about something happening to my base while I'm away.
I would like to have the normal shipyard and outfitting sections, but nothing should be available for sale. But if I want to store something or module transfer or ship transfer that should all be available. Not sure how I feel about that being available for other people. I kinda like the idea of only allowing my friends list to dock at my station or something like that. I see a potential for a rival group to block the pads at my base as a way to annoy me, not allowing them to dock would solve that. I would like to be able to refuel, repair, and restock at my base. I don't have a problem with others doing that at my base either.
I like the idea of having an extra large storage capacity for modules and ships at my base. As well as having the ability to store some commodities at my base only.
Obviously the base would be extremely expensive. I like Dave's idea about being able to purchase it modules at a time. Maybe the base is cheaper, but I have to buy landing pads individually, I have to buy refuel, repair, then restock. etc. So the total cost is still very high but maybe mid-game players could get into one for a little less.
I think there is potential for some additional stuff too, such as an SRV race course, maybe gates for fighter racing, or other things like that. I'm imagining I could host an interplanetary BBQ for my friends who could come to my base and we could do some sort of activity together using specialized equipment/facilities that I purchased.
Anyway... I hope they are able to do something like that in the future.