No, not rightly so, regardless of the premise of the game. People get obsessed with having personal freedom to do whatever to the next person in this game, but only caring about that concept will create an even worse griefing experience than MO1 was, which will bleed needed players. You have to allow for some flexibility, and that's about gaming realities.
So you want full reality and freedom? Ok, your character has to eat balanced meals or they will gradually get sick somehow. Your character has to sleep at least 7 hours a day on a bed in a prone position or else experience serious penalties and eventually death. If you don't use a skill, it gradually loses skill points until you practice it again.
And when you die? When you die, all your loot is dropped and your character deleted, because you know, they're dead.