There is nothing wrong with roleplaying a specialised squadron/wing of the Liberty Navy. The more people that put effort to into Liberty, the better it becomes.
However, being an atmospherically orientated squadron is... nearly impossible to roleplay, given the limitations of the Freelancer game engine. I find that the key issue being that your name is inappropriate for what you might want to undertake, such as flying more than 2k from a planet.
Edit: Technologically speaking, this idea is easily possible. I won't deny that.