Should Open World PvP be level restricted - to a degree?

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Yes.

But outside of that, any PKer who really just want to PK lowbies can just go make an lowbie alt and PK them more than they'd be able to on their main. And this is why I'd prefer if PK count was account-wide rather than character-based.

A shitty PKer will still be able to kill quite a few players, but then they'll have such a high PK count across their whole account that any single PK will push them below pvping strength and then make them spend a shitton of time trying to remove that counter, which is the goal of the corruption system - lessen the amount of PKing happening in the game, be that through sheer deterrent or through resulting punishment.

That PKer will also not be able to give their lowbie alt good gear, because they won't be able to return it back to other chars. Though this would probably require a ban on using your freehold storage on your alts (or at least when you're above some PK count value or just currently have corruption).

And if the PKer is a lowbie with shitty gear - they won't really have that much power to kill many people. And there's always the high lvl BHs who're supposed to help hunt these little fuckers.

TL;DR level restrictions on pvp won't help.

And if you're talking about untouchable lowbies, where others can't even flag against them - this brings exploits related to the artisan system and it also separates the game into "non-pvp gameplay" and "pvp gameplay", which pretty much makes it an opt-in system. All the people who don't want to participate in pvp will just stay at lower lvls and do all the other content w/o ever fearing that they'll get attacked, which removes the risk/reward part of the game and ties back to the potential artisanry exploits.

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It's not a scale or a spectrum. It's a binary system. You are either corrupted or not. Even a single point of corruption makes you a Red player.

Also, iirc they said they do want a visual change on your character when they become Red.

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You'll still suffer all the other penalties. And your respawn location will be random, so there's a pretty high chance that someone else will see you respawn as a red, instead of your friend.

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Even if the pvp XP mechanic stays, I'd assume it'll give waaay less XP than most mobs. And with corruption grind off being "slower than L2" - ya ain't removing corruption through pvp kills.

And that's not even to say that you probably won't see that many flagged people around you if you're Red.