The possibility to regularly hit Gold Ore haulers on my pirate character. That would significantly cut my earnings, but can be easily replaced by more smuggling.
A probable drop in the activity of BMM, which is the archenemy of 2 of my factions.
A probable drop of the activity in Dublin, which is one of the main activity system for my Gaian character.
So, to sum up : Less piracy targets, a bit less activity.
All in all, nothing insuperable.