Ah, but the thing is that there's also a state of infinite resources (as we see in episode one, monsters respawn shortly after they are killed) and an unlimited time factor (there's no mention of a time limit before everyone fries). Every player death reduces the chance that someone will clear the game, ergo it's a case of shooting yourself in the foot just because you're bored (which, in my experience, is the usual reason people PK).
I wouldn't be surprised if the laws would change over the course of time between when the game starts and it ends (either everyone dies or someone clears the last boss).
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