It should be interesting to see what gameplay comes out of "one life to live" style gameplay when outside the safe zone. For most of the early game it won't be an issue, and as people start taking risks, exploring and getting into confrontations, then it will matter if you live or die.
A big issue with respawning is large groups can always abuse such a system more than small groups. If you can have a ship that allows 3 respawns on it, the big group will bring 10 of those ships, where a small group might not have the manpower to run even a single one of those ships.
My main concern with respawning is players randomly dying and being 1hr away from their friends and how that would be difficult for an MMO. If perhaps there were some way to piece-back-together your robot-friend who died, it might work. A large group will have trouble piecing together the parts for one person when there's so many parts lying around, and it puts a time and effort mechanic into it - one person focused on rebuilding someone isn't doing anything else, taking them out of any immediate fight.
The other issue is even with this, if respawning - rebuilding the robot - is free, then there's not much meaning in dying if you have someone who can put you back together, making suicide a very attractive option. If instead, there were some resource cost for any kind of respawning, then your life still matters and you're less likely to do stupid things.
If finding the parts to rebuild a robot took a little time depending on how they 'died', then there's a choice players would have to make. Go for the revive, or keep pushing the enemy. If you die in space however, this leads to another problem of being left floating in space - do you respawn, 1 hour away from where your friends are, or sit there AFK in space for 30 minutes waiting for someone to rebuild you?
The most simple solution is one life. It's the most balanced over all, just splits groups up a bit much, so they'll have to play close and tight. In the long run, hopefully some meaningful solution can be found.