This also has the impact of forcing people who engage with the game in a mixed way to regularly be penalized for simply playing the game.
Sometimes I log in and want to plunder from others and will, other times I'm willing to be more peaceful. A system like this will either shoehorn players like myself into more hostile encounters or into having to lose our hard earned gold to be able to play how we feel in this particular session. And yes, stolen loot is still hard earned gold. You earned it by taking out the threat of other players rather than the process of following riddles and maps and such. You still had to earn it and defend it and sell it.
And what of those who like to play with random crews. While a lot complain about this, I still see folks sometimes comment about enjoying playing that way. That requires a more open play style to work, being willing to do what the crew wants to do. So I join a crew that wants to hunt players and enjoy my session. Next time I get a bunch of newbies who want to take it easier and learn the ropes. So they are out of luck cause they got put with me at random, have to engage in crew hopping, or I have to give up my hard earned gold yet again.
In the end, this is simply trying to add a penalty to those who engage in the PvP side of this PvEvP game. If you want something like this, you need to also apply a penalty to those who engage in PvE for simply playing the game. Would only be fair.
Or we could just forgo this entirely and accept that this is a session based game where you are on a pirate adventure, which means conflicts with other pirates at some points.