This is such a good observation. UO had a real economy and social hierarchy because power wasn't handed to you. You could spend months as a fisherman or tailor and still have a meaningful experience. The gap between a grandmaster swordsman in full plate and a guy selling fish at the Britain bank was enormous, and both of them were having fun.
Modern MMOs are theme parks where everyone gets the same ride (with pay per win). UO was a living world where your role emerged from what you chose to do, not from a quest marker telling you where to go next.
Core memories of carefully setting my fisherman on a boat with `ezmacro` before I got ready for school. I'd come home to either a boat full of fish (to later cook into fish steaks), or be dead from a player killer who found my boat and killed my macroing guy to try and steal the boat.
> UO had a real economy
Sort of. They disabled big parts of the "real economy" in beta. Turned out that players didn't like it that NPC shopkeepers kept standard working hours and didn't want to buy their 5000 skullcaps from their skill grinding.
Likewise they even more quickly got rid of the real ecology feature, both because it was computationally intensive but also because players would strip mine the ecology.
If starting from scratch, what would an MMO need to replicate that?
I've experienced it first hand, but I can't grasp why it worked well like it did.
This is why I enjoyed EVE Online. You had to earn it, and if you lost it, that was that.
My friends mocked me for spending months as a llama herder, until I could tame dragons and grief people by pulling them through portals.