Two things that I believe would greatly enhance the game, is a crafting system where no two items are alike, and a community based economy.
For example, one person may craft an item that has 80% quality, while another crafts an item that has 99% quality. The item crafted at 99% compared to 80% would have a slight advantage (attack speed, slight damage multiplier) such that it would not give the player an unfair advantage over the other, however it would give players a goal beyond simply surviving: Collecting the best gear possible. Obviously this is just a concept, and would require tweaking, but I do believe that something like this would add to the game, especially if an economy were implemented.
The addition of a currency along with a method of safe trading and storage (such as a bank) could add to the community. It would have to be more secure than simply storing items in a house which people can raid, yet not impenetrable. This would allow for organized bank robberies, but not the sort of thing that would happen every day to every bank. I realize this sounds complex and hard to implement, however if it were implemented properly, it could add a new level of excitement and realism to the game.
People would have to work hard to survive initially and settle into a house. Towns would then be formed, shops created, and a thriving community of towns would generate a competitive economy. Sounds complex, it is complex, but personally it is something I would like to see (or something of the sort).
Please leave comments below commenting on these ideas, or adding to my thoughts. The more we speak up and talk about possibilities, the more likely some of them will be implemented in the final product of this game, which has serious potential.