Without dedicated characters in Liberty, my experience with the Rogues is a little lacking. However, what I have seen, and what you've described above, sounds brilliant to me.
In my head, the Rogues are just that - rogues. They don't band together and behave like a military, answering to commanders and following orders. Their salute is done with one finger, and their sails are set with three sheets to the wind. That's also the impression I get when I meet or see encounters with the LR - which from my perspective, is perfect.
The concept of a constantly-changing "leader" mimics that impulsive and opportunistic lifestyle pretty well, I think - there's always going to be young hotshots vying for the top spot, and there'll always be those who go their own way regardless of what (or if) they're being told. The lack of organisation and unity embellishes that really well. When someone says to me "It's ok, we're friendly with the Rogues", I think "Really? All of them? Or just the odd one or two you've befriended?"
In short - I thoroughly approve of what I've seen of the LR "business ethic". They're there for fun and personal profit, not to be organised Rheinland Military-style antagonists to the LN.