If you're suddenly immune from IC consequences, then there are no real restrictions or risks to worry about.. this would be terrible for the game. See a heroes corpse? Look that shit without worrying about anyone coming for revenge. Have a buddy getting beaten up? "Explore" healer, coming right up that no one can do anything about. Big bad lich bent on world domination? Not a problem for my explore thief who can follow him around the entire map calling out his location and when it might be a good time for Team Fortlander to swoop in and take him out.
Basically, the only way this could function would be to make IC interactions impossible. But at that point, you might as well be logged into a different server all by yourself. And that isn't what this game is all about.