Here is how a gold wipe would ruin UO for me:
I have been playing for about 13.5 years now. Quite a few years ago, I got the bug to try to train up crafters, a peace tamer, a treasure hunter, and a faction thief on every shard, including Siege and Mugen. I'm still not done with that process, although I've made some good progress. A few of my peace tamers have used 120 power scrolls and most of the blacksmith/tailor/artificers have used 120 scrolls. However, for most of my peace tamers, I've settled for 115 and 110 scrolls because I just don't have the gold to buy 120 power taming, lore, vet, music, peace, and magery scrolls for all of them. Just don't have it and never will.
Now, if there was a gold wipe, it would take away the approximately 130 million in gold I've managed to squirrel away over 13.5 years on all of those characters and all of those shards. I have a grand total of ONE item from an EM event that I got at an event on Balhae about 1.5 months ago. It is an item that I have not seen anyone else trying to sell, so I have no idea what it is worth. I also have vet rewards pulled from my own accounts that I've used to furnish houses on 7 shards and on Siege and Mugen. Other than that, what do I have of value that I could sell to quickly raise gold again to cover insurance costs on all of those characters? I have nothing, really. Piddly amounts of resources like leather, ingots, wood, and reagents. Some piles of hoarded jewelry that I may or may not ever be able to imbue additional properties on. Some city banners. No hoarded books of power scrolls, SoTs, SoAs, or stat scrolls. I own not even one crimson cincture or anything similar. No rare pets to sell.
I would be very, very irritated if all of a sudden all of those characters I worked so hard to build and who are not rich by any means all of a sudden become so poor that they can't even keep the clothes on their bodies if something stupid happened like a city invasion in the places where most of them are logged out.
Yes, I know all about building characters from scratch. I've been doing it for the last 13.5 years, including on shards like Siege and Mugen. I really do NOT want to keep doing it forever in UO. I've already done as much of it as I really want to do to get to the places where my characters are now. I spent a lot of time already using my peace tamers to try to put aside some gold so I can one day make my characters better and get them better gear or maybe build a house on a shard where I don't have one now and drop one I already have. I do not want to have to do it all again. If I lose gold in the game through my own stupidity, that's one thing. But to have the game developers yank it away on every character, on every shard....sorry, that would be the end of my playing UO.