Well if your talking about the Stress and excitement that came from stepping outside of town at your own risk...and basically the policing falls on the player base.
If you mean the hard won loot and skills as you first start out or those blindingly rage filled days were you have lost it all.
Eve Online is the closest thing I have found.
Stunning economy, a game world with truly galatic proportions, true ingame politics with the player base, ability to achieve sovereignty in systems through your alliance, and immense areas for the newer players to do thier thing in relative safety as long as they are paying attention.
Time based skills (right click train to a level for X amount of time) that train while you are off line.
Steam has a 21 day free trial
Granted you are not going to be doing much in those 21 days but you will need all 21 days to scratch the surface of EVE.
Pirating is a perfectly accepted career and bending game rules doesn't always get you banned...infact sometimes you start a trend.
if there is a blank in the sign up for who refered you use "fearceone"