In an entertainment product adding mechanics should invariably be done for one end. To provide entertainment. Whilst your system does add mechanics, and they have some impact on other mechanics, it doesn't (for the lager target playerbase) add anything in the most important aspect, entertainment. You are asking for the feature on the basis of adding a feature. The only other reason would be you find it entertaining (your opinion having more weight than any other). If we were discussing a real world similation the benefits you bring up would be more relevant, but it's a game..a linear themepark game.
1) Ultima at it's time had a roughly comparable budget to many themepark style games. Even then it had the benefit of an established playerbase over many releases following it.
2) Ultima, EVE.
3) Is this supposed to reinforce anything? Are you infering that without AAA status no game can be successful? Why haven't sandbox MMOs recieved AAA funding?
4) Few games ever meet expected revenues in todays market, that has far more to do with unrealistic expectations of companies and the belief that spending more always returns a higher yield (a line of thinking less common outside the media industry), there was an article on the escapist recently that highlighted this very real problem. Lots have been successes, though how success is defined by some is worrying. My brother, for example, cited EVE as 'not a success', despite it running for over a decade and having currently ~500k subs.
If I did say they fare badly it was my bad wording, it's not so much that they fare badly, than that they fare less well than themeparks. People view their spare time as precious and we now have far more choices in the entertainment industry than were available 10 years ago, the competition is fiercer. What worked yesterday may not today as people's demands change, today we live in a world were people want entertainment now, delayed gratification is less prevelant, as with choice people leave before the pay off if the journey itself isn't entertaining.
This debate either way is pointless, there will be no permenant item loss.