Yes, even half will make it a great game. Having large randomized land masses (Even if they are somewhat generic) with randomized resources, could allow them to add land as players cement control, always shaking up who owns the best what. (New world spawned with tons of Iron--Iron is super rare in X and Y kingdoms on other worlds--big fight breaks out for control from vassals. Or they do a kind of "Bounty system" where the king of one land offers X support in return for Knights in Y new land to pledge fealty--it would be epic.) The real crux will be weather they can do the random generation correctly (Like a super version of EQLandmark minecraft) , and make systems that really exploit the need for that new world, and allow players to form relationships based on those needs (Excited for the fealty system if they use it for this). But a big thing will be is if they will be able to build servers which can handle this kind of arching, randomized structure.
Combine the random, expansive content though with item loss for turn over? And perhaps adding new adding newer and stronger alloys, which require more and more base metal. Which could force a kind of generational turn over that you see in real economies. And you could actually have a set of worlds where there is a constant need to explore and fight over territory. Anyway, as others have said--all this stuff sounds great, but it's easy to sound great. If they can even pull off a mediocre, watered down version of the above? I'll be super fucking happy.
Also, I love Ralph Koster as a designer. He's a terrible project leader, but he's got amazing ideas and insights into MMOs. Some of the shit he envisioned for MMO's was so far ahead of it's time, and that was his biggest flaw. He never knew when to cut up the dreams and work them into a usable (As per the technology limitations) reality. I mean, if you look at SWG, everyone says the main problem was not the concept--the concept was incredible. It was the execution. Even after release Koster continued to try and flesh out and expand systems, rather than fixing what he had and consolidating/refining; his problem is he needs someone to reign him in. But if he's in a role now where all he does is design, offer ideas and consult--and someone else can cut or use as needed/desires? That's perfect.
