So, let's look at the balance. Traders really can't efficiently defend themselves - you can't fit a trade vessel for combat, only for evasion. The police forces are a joke. Evading bounty hunters is (apparently) easy. In fact, there's no reason to be a PvP bounty hunter at the moment. About the only thing that's somewhat balancing this out is the fact that trade is incredibly profitable compared to any other profession (when it comes to the trader - pirate balance, assuming the pirate doesn't stupidly demand ALL the cargo and doesn't blow the trader up). All in all, I wouldn't call that balance.
Above all else, I do find the mentality of the pirate a bit worrying. Again, kudos to him for actually being a pirate (get goods, not kills) and not wiping the bounty, but everything about "outside tools" was just on his part - disconnecting from the game is low, but so is finding out online which are popular trade locations, picking only guaranteed fights and cowardly running away with impunity at the slightest hint of any danger...
The irony in this post is simply astounding. Without traders to hunt you will have nobody willing to play pirate, and without pirates you won't have many bounty hunters since they hunt pirates.
It's a vicious cycle. If you want to see a good game balance the only way it will happen is if everyone is forced into open mode. Because currently, the traders are all playing in solo. The pirates are getting frustrated with lack of targets and then they leave the game or make a trader in solo mode, the bounty hunters then get frustrated because they have no pirates to hunt down and they leave the game or go trader in solo mode.
This game cannot function properly without all parties doing their thing in the galaxy. It's very easy to understand, the number of pirates playing will always be somewhat relative to the number of player traders they have to hunt. If the number of player traders goes down then so will the number of pirates. If the number of pirates goes down then so will the number of bounty hunters as they will have less people to hunt down.