There are lot more PvEers than PvPers. And if you push PvP onto the entire community a lot of people will just quit.
Also, the reason why High-Risk is so lucrative is because a lot of PvEers are willing to cough up the gold to avoid PvP but still want access to those powerful enchants, consumables and items.
But I agree that the system is buggy. I'm a No-Risk PvEer, and really hate it when it flags me for PvP. I don't like having gear, items or gold stolen from me. And I think a vast majority of players are like me. So a good fix to the High Risk system would be to overhaul it to this:
In a Major City pay 200gp to gain a High-Risk buff for 1 hour:
- You are flagged for PvP (this is the only way you can become flagged for PvP)
- You may now collect High-Risk items in the World
- You are now trackable via /who (meaning other players may search zones to find High Risk targets)
- Aspect of the Beast no longer makes you untrackable (shapeshift makes you trackable as a beast)
- If you are killed, the player that kills you gets the 200gp you put in (so Kill-stealing is a thing again )
- Upon death you lose your High-Risk buff and become unflagged
- Returning to the NPC with a your High-Risk buff intact will allow you to get your 200gp back
Maybe have a 500gp or 1000gp buff to collect raid gear or more expensive items. But the point of my proposed system is that it is more palatable of a loss if you die, because the player already put in what they are willing to lose. A system like this is also more enticing to "Hardcore" PvPers like you because it allows you to find other High-Risk players faster.
I could see myself putting myself into High Risk mode in a system like this. But as it is right now I am content with sticking to PvE. And I would definitely quit if Ascension became a PvP-only server.