I stopped playing Sea of Thieves years ago because of the rise in harassment instead of "normal" PvP (i.e. people hunting you down if they see that you are not interested in doing PvP and even more if they see that you are inexperienced in PvP combat - gloating about how easily they can kill you and ridiculing you all the way).
Sadly, Sea of Thieves gives a strong incentive towards this playstyle, and it is boosted by influencers on all media platforms en masse.
This new mode could be a step in the right direction to win back players that want to explore the lore, that like to take in the scenery in a more leisurely pace, and generally have a good time playing together, not against other human beings. I found it completely insane back then to have achievements in seasons that needed two crews to work together - I could never get any, because there were always crews on the servers that just wanted to make sure that nobody could get those at all.
Also, if you are timeboxed because you actually have to work the next day, you do not have the time to flee from a PvP hungry crew for hours trying to unload your loot along the way by having singular people jump off the ship near outposts because you cannot really get away from the other ship. At some point, you just have to log out and lose most of it because you do not have enough time, even though you braved lots of non-player-enemies the hours before.
And that is just plainly not fun at all. Therefore all of my friends and I stopped playing.
Now, this "safer seas" update seems a bit half-baked to us. We all advocated for years for true PvE servers. Completely separate from the rest - separate pirate, no transfer of gold, reputation or anything. So people, who are playing in open seas can brag (and rightfully so) to have earned their stuff "the hard way", while the rest can still enjoy a non-castrated game.
Again, no transfer of players, items or anything between the two modes.
Sadly, the fear or losing too many players as lambs for the PvP hungry influencer followers to slaughter seems to great for Rare to go this step.
So I will take a look at this update in December, but I do not think that it will bring the old crew back together. It is a half-hearted step into the right direction - better than nothing, but far from what this game deserves.
Also, I think it is telling for the community that everybody just glossed over the comment of a person further up who suffers from ADHD. This is no joke, some folks that have this disease cannot function that well under stress, and PvP is a whole 'nother level of stress compared to PvE. They could enjoy the PvE portion of this game, but are not allowed to enjoy/see all of it, because they have a disability.
And instead of pausing, and just thinking about the fact that this game (like many others, no doubt) lacks foresight to care for a lot of disabilities by design, this person was basically ridiculed.
Those kind of reactions are also very telling about the mindset I encountered years back, and again and again when I dipped online inbetween to see if something had changed.