It's yet another example of FDev's recent strategy "Start things but don't finish them and silence them so we can't get negative crituque."
Doing nothing is basically FDev's strategy as of late. We basically have no devs atm. And thus, noone is working on that proposal and with working I am referring to discussing if it is a good idea, and if yes, how to implement it and then actually implementing it. Since no mentionable changes are coming until the end of 2020, I expect nothing to happen right now.
So yeah, PP keeps being as dead as it is and merely be a way to avoid local bounties and do some PvP ... or just shoot anyone who isn't pledged to your or your allies' faction. This is PP atm and that certainly won't change. Atleast not until 2020 ... and from experience I can say the upcoming years it won't change either. A realistic date may be 2026 +/- 2 years, dev tolerance, ofcourse.