I’ve been mulling this over for a while now, as it really does seem like a unique game play style (as most games are fixed firmly in a particular ‘time’). It’d be a really great way to establish skills/traits and whatever as well.
As Kevin said though, it’s practically a whole other game in terms of balance and structure. For instance, whilst everyone is panicking, you could go and take other peoples stuff, so the npcs would need to protect it which would probably mean a lot of possession coding and whatever.
When DDA moves closer to being a lot more stable/fully featured (sort of like DC:SS is now) then I imagine this could be the mode that really elevates the game to new heights, so lets not forget about it!