There are already consequences to your actions, under the current system it takes MUCH longer and MUCH more work to gain high standings with all 4 empires.
Grinding up to the point of having access to lvl 4 missions across the board doesn’t just take 4 times as long. First off, you need to turn down any faction kill missions, which if you take them will absolutely tank your standings. you can only turn down those missions once every 4 hours, so if you end up with 2 of those in a row, you are effectively locked out of that agent for the remainder of your play session. this slows down your corporate standings increases to a crawl already. (especially since there are some corporations that only have 1 or 2 security agents)
Even doing that, your storyline missions will decrease faction standings with both opposing factions (although to a lesser extent than it raises your main one. and it does increase your friendly faction by a small amount which mitigates the losses slightly)
By the time that you have repaired the damage caused by gaining lvl 4 missions with one faction by bouncing over to the opposing factions for a little while, you will have lost access to those missions again, by the time that you get the opposing faction up to lvl 4’s you will probably be back down to lvl 2’s faction wide. (your corp standings mitigates this, which is the only saving grace)
it is possible to have positive standings with all empires, but it could take years of work to become “beloved” by all of them. and thats before even considering all of the “mini” factions (i’m not actually certain if it is possible to have high standings with thukkers and maintain all of the others, since I think only minmatar are positive to them)
Eve is a game about consequences yes, but it is also a game about freedom and being able to do what we want. if a player is willing to dedicate years of work towards attaining high standings across the board. why should we say that they can’t?