Except that is what we are missing. Where is the galactic notoriety? I should be able to visit a random planet for the first time and hear tales of my exploits or see the denizens cower in my shadow. Space is vast yet most of the systems in-game cannot be entered and those which can are either dead planets or mysteriously teeming with loitering, hostile enemies.
I'm all in favor of that. As normal reputations.
I'm proposing a special kind of reputation to fulfill mechanical purposes.
It wouldn't eliminate or rule out reputation with other species.
This is just about Federation species reps. Doesn't mean other kinds of rep wouldn't continue to exist.