RichardWolfysaid: I really want to cause I have a character in old school and all i did was logout during character creation, now I can't even customize my character
You can customize your character past character creation with the various NPCs that each provide a different customization service. It'd be a fatal blow to some players if a hacker could wipe all their progress, should a character restart option exist. A much better option too would be to be able to have multiple characters under one account, like most other games out there already provide such a service.
It would be really hard to please everyone with this idea, although I don't think it's a bad one to say the least. I know a lot of people would like this idea, but as others have stated, I can foresee some players going through with this and then regretting it down the line.