It might promote more interaction between players if you could look at another player and get a vague idea of their ability to destroy you.
Given the system in place currently (which I like) you don't really know anyone at a glance and need to "memorize" them to remember and get to know them. If you see a stranger walking toward you for the first time you have no way to tell if they are strong or weak aside from the clothing they wear(which means nothing as it can just be purchased).
I can look at a weightlifter and tell at a glance that he is much stronger than I am. If you were able to get a general idea like this in the game you might be more willing to defend yourself against someone of comparable strength.
It would also promote more social interaction in the wilderness as you wouldn't need to be AS afraid of another player if you knew he/she was close to you in strength. You might actually stick around to say hello rather than logging out at the first sign of a red square on the map. If someone as advanced as the Chief came along, you'd know there's no point in sticking around, but if some noob comes knocking on your gate thinking he could get some cheap loot because you'd log out as soon as you see him, he'd have another thing coming.
I think it should just be a vague comparison, not an accurate readout of their humors of course.