I can see the appeal of this idea, however, I don't think it's workable in a galaxy that millions can inhabit. Pretty soon, there'll be so many stations all over the place, and you'll struggle to find somewhere to put one. You'll end up having to build one hundreds of lightyears away from inhabited space just to find space...a bit like how you have to travel so far to find unexplored planets. You'll end up never going to it because it's just too far away. There'll also end up being abandoned stations as players decide not to use them anymore (but removing them is too much effort), and people will build multiple stations all over the universe, so there'll end up being millions of player owned stations that aren't even in use. Trust me, if player-owned stations become a thing, within a week, every planet in the Sol and Achenar systems will have a dozen stations orbitting it.
However, I've thought of a nice compromise: let us choose a station to make our home in, and give us a room in that station to "live" in, store stuff, etc. Best thing about this is: a physical in-game presence isn't required, because your "home" would be a virtual entity that only you can access, and there's no need for your home to be even visible to the rest of the community (unless you choose to let people in for some reason - I'm sure some arrangement could be made for that). So potentially, millions of players could have a home on Lave Station, and space needs not be an issue, neither does dormant homes or people who decide to build homes everywhere just because they can.
If people build bases around I don´t think planets would be crowded, maybe Mars and the Moon, but else planets are to huge to make small individual bases crowd them. And if E.D becomes the opposite of ARK you can loot the remains of the left over bases to scavenge resources. I don´t think it will be many unoccupied bases left on the surfaces then.