check out Elite Dangerous, they have this feature, and the result is a totally deserted open-play in a universe that has billions of stars, (where, unless you going to a trade hub, you almost never meet anyone) you can’t even meet half of your friends because they always play in some other instances.
plus this is also a breeding ground for false security, where people just go on a private instance to bypass some dangers. basically turning yourself in a NPC that pays for electricity.