Dear Devs,
even though i see the safer-seas-update still as an improvement, i also don't think the setback in the levelcap was necessary. Two arguments from my SoT-gameplay:
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I suppose you just don't want to devide a inevitably decreasing playerbase of a Live-Service-Game more than necessary (into the PvP-/PvE-only Players). Even if Safer Seas would go way further than now, I will return to High Seas from time to time, when my crew constellation allows the usually belligerent gameplay there. My friends don't play as much as i do, but i still want to play SoT in the meantime. So as solo i prefer to play Safer Seas to farm gold and cosmetics for our next joint adventure in High Seas - since it happens more than enough, that i returned back up from a skeleton fort just to find my parked sloop already getting bombarded by a 3-player brigantine. Please make this Safer Seas gameplay as rewarding and efficient as possible (e.g. allowing me to use my own ships and the sovereigns - you can still block ship progression if needed). I honestly don't think you divide the playerbase as much as you think since the High Seas still offers the extensive package of all world events etc. Without Safer Seas or a more restriced version of it you wont get more High Seas playtime from me, you just get less playtime in general. Additionally you would have lost out on a hole group of players wich might feed High Seas in the long term - that leads to my second approach...
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I brought my wife and my sister to buy the game (at full price) to play with me, but only after you announced the Safer Seas mode in general and the least improvements. There is barely a chance of me getting them to play High Seas, since they feel very stressed about even the potential of competetive gameplay, but i'm still trying. We also bought cosmetics from the pirate emporium, since they both know and like the Monkey Island and Pirates of the Caribbean franchise and can use them in safer seas (but need to apply them every single session again - pls fix/add the safe option or better the entire own ship catalogue to Safer Seas). So financially spoken you even made money out of the PvE-only Players until today, wich non-offensively might interests you the most as a company.
Happy New Year