I think the major problem comes into a game like this when you have people using alts - complete and utter unaccountability. If you have only one character and you risk fucking up your entire experience if you get caught under certain circumstances (100% Change, for example), you'll wait longer and prepare more for when you actually do start being a thieving, murderous bastard.
I appreciate that some people may have alts for perfectly legitimate roleplaying reasons, but if given the option, there is a nontrivial portion of quite a lot of playerbases that will use alternate characters solely for the purpose of 'getting revenge' or 'stirring the pot'. That's fine, but if a person isn't going to use their main to do it, they shouldn't be doing it as they obviously aren't willing to commit to dealing with the consequences personally if they get caught. After all, you can't be a shining paragon of goodliness and strength and simultaneously be a sneaking thief and vandal (without a lot of work). Two totally different statsets.