Here is idea to being back the Arena in a way.
Basically, RARE can add an option to turn the Hourglass of Fate into the Glorious Sea Dog/Arena version, allow players to transport a new server where they are locked in a region/ring for 15 minutes and have Arena-style fight and if any ships try to leave the ring they will sink. All players will get set of maps to dig up Glorious Sea Dog Chests and have deliver to the floating Sea Dog Outposts.
All the system are basically in place. Only thing RARE has to do is adding Sea Dog Outposts into in-game world and it basically done.
EDIT: Also after the 15 minutes and fight is over, and if players still have Glorious Sea Dog Chests onboard they can sale them at Sea Dog Outposts, but they will get Gold for them instead of Silver.
