It's my understanding that "owners" of player-made factions do have some additional rights, in terms of being the ones to make suggestions for CGs and such.
But FD have announced that they will no longer be editing faction names, descriptions, home systems, allegiances or government types. So while you might get to "take over" a faction, you won't get to fundamentally change its nature (eg. by taking an Imperial system and making them Communist).
As the game progresses, the issue of "abandoned player factions" will become more and more prominent. Especially if they keep adding factions at the same rate as they have been, and persist in the "protected status" of PMFs already in the game; even with 20,000 inhabited systems in the Bubble, they'll eventually run out of room to put everybody.
But FD have announced that they will no longer be editing faction names, descriptions, home systems, allegiances or government types. So while you might get to "take over" a faction, you won't get to fundamentally change its nature (eg. by taking an Imperial system and making them Communist).
As the game progresses, the issue of "abandoned player factions" will become more and more prominent. Especially if they keep adding factions at the same rate as they have been, and persist in the "protected status" of PMFs already in the game; even with 20,000 inhabited systems in the Bubble, they'll eventually run out of room to put everybody.