I look at it a bit differently. If you have no positive standings with the faction you proclaim championing, I can't take it IC seriously, nor OoC seriously since it means you can't even be arsed working a little to back up your RP with measurable in-space effects.
I could agree with that, but its a problem with pirate factions because:
1. Most people go into the pirate faction game having mission ran in the past and therefore having shit standings with their faction, and since the angels and the guristas are the only factions with epic arcs, its really hard to claw your way out of a standings hole once you're in it.
2. Nullsec is unfriendly. I have positive angel standings, and the more times I run the epic arc and the more missions I run, the more paranoid I get there. By the end of the epic arc, I'm always so high strung I'm physically shaking. Even though I'm in an unimplanted clone and a cheaply fit retribution. And I know that a lot of people can't deal with that stress as well as I can.
3. A lot of people need to mission run for isk, and if they can't live in nullsec, then they've got to keep running missions for highsec factions, which
will slowly whittle down their faction standings.
4. Other then a pretty little symbol and a number, there is absolutely no tangible benefit to standings, it means
nothing its just a sticker.