I think this could be nice, but it would need to be limited. No hiring NPCs, no corporations, no no no. Maybe you, and 4-6 friends (Maybe a max of 10) could put together a huge sum of credits (At least a billion) and create an outpost in a new system. You could create a faction, but it wouldn't be feudal (no expanding) and perhaps some other limitations of the sort. For commodities, there would be very few, but you would get better prices on what's there (which would be depending on what type of outpost you built, say, mining), and outfitting again would be limited, but with a discount on all items. What I'm getting at is that outposts will serve a very basic gameplay function, and more to show players that you have money, a base (Maybe no negative rep for you, ever), and a very nice one at that, because we would be able to paint it with decals as we do our ships, and as the pirates do with their outposts. The outpsts will be centered on roleplay and very little on gameplay.
Forgive me, I just ranted on the thoughts passing through my brain, no organization in that paragraph
EDIT: We would also be able to upgrade the basic outpost into a specialty base, as in a refinery for a mining outpost, outfitting and fences for a pirate outpost, and so on.