Arguably simply being able to elect to insure cargo would go a long way. Loop bounty hunting in by posting CMDR bounties at busy trade hubs as actual missions. Use the in game mail system to dispatch execution orders with large payouts that target criminals who have racked up significant PKs. Provide additional missions and triggered events for pirates so they have additional income streams, provide a marque that offers bonuses for supporting the pirate King.
There are things frontier can do to bring both sides of the mechanic closer. And also make it just a little bit more viable for all. It all comes down to a willingness to put focus on that, knowing it may impact future content.
And between you, me, and the goal post? I believe this is where it falls down. Frontier end up on the treadmill cranking out new content and fixing that new content, with little left in the tank to address this; that an almost ground up rethink is required, and a lot of mechanics fleshed out just makes it all the harder.
Focus is on driving sales; meanwhile non-trivial chunks of the community across virtually all play styles are left holding the baby and aren't quite sure how that happened.
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