Yesterday I had an argument with one member of the staff at our UO Shard about "what if you lose everything?", referred to tangibles (money, objects, the house,...).
It was interesting to notice how many of the players and at least one of the staff members calculate their sum of "gameplay experience" just based on those tangible things.
But at least for me it's different. One of my friends, Radagast, taught me that tangibles are the least important things in an online RPG. All that you get in your virtual life in an online game are pals, friends, good times, an "old" character with good stats and skills, knowledge, adventures, stories to tell others... and at the end of that, a pack of possesions that come and go, volatile things, whatever they are (money, armors, weapons, a house...).
Possesions are mere tools to enjoy the game, not the most important subject of it. If you lose a good armor, bad luck, but you could also win a enemy armor, equal or better than yours, and that's the only way to trully feel the adrenaline pumping in your brain while PVPing. Or the risks of trying to defeat that fearsome red dragon that lives deep inside the mountain, if you prefer PvE.
That's my point of view.