Yes , And i Frankly think that this is a bad way of implementing, since it takes away Bounty hunting CMDRs , it makes it even harder than it already is. we simply dont have the technology to chase someone between systems unless you friend him. I mean have you EVER tried to follow a CMDR trough the wake scanner? by the time you do scan and jump the target is already in another jump. and you lose him, so chasing is NOT an option. fighting as of NOW is not a option either, unless the target has a hefty 1M bounty... But i don't think this will ever be a possible scenario (Combat logs baby!).... So in the end. this is just another brick DEVELOPED by devs to make PvP even more apart from the main game. And I just feel sad about it they should actually remove the Top5 bounties... because it serve no purpose as it is right now...
You're absolutely right, PvP bounty hunting is practically impossible unless both hunter and hunted wish to play the game. That's always been the case for so many reasons, some of which you mention, but let's just add instancing and modes into the equation.
The thing is, as has been said previously, bounties against the environment and NPCs are trivial to get, so the consequences for having them are relatively easy to avoid. Most players (I suspect) don't rack up bounties against the environment so that they can be the target of player bounty hunters.
Now, what FD
could do, if they wanted to make gameplay out of the PFB, would be to make them local to a system where the crime was committed, then create a new piece of equipment: the PFB Scanner... This would scan only for PFB's (which would still only be given out for destroying clean players, nothing else), and if it found that a player had one, would allow the bounty hunter to attack and try to claim the bounty without becoming wanted. Could either do it by simply flagging them as wanted, or could be sneakier and remotely disable "report crimes against me" on the target ship. Players with a PFB might feel safe, because they aren't wanted where they currently are, but they'd never know whether that hollow square on the scanner had a PFB Scanner...
I don't think however that FD want the PFB to be about gameplay. It's about trying to stop players from randomly destroying clean players, and dis-incentivising them from doing so by giving them a galaxy wide bounty (and presumably further 'punishments' for repeat offenders if / when the karma system is introduced), and as things progress making harder hit squads of NPCs coming after you, denying docking rights... all things that make playing the game less fun
unless being continually chased and attacked by players is what you want. So doing what I outlined above would actually give players who do enjoy that an incentive to destroy clean players for no reason, and ultimately, FD don't want players killing clean players for no reason, so they are unlikely to ever add gameplay around such behavior. This is just my take on it, and obviously I could be wrong...