With the 'no respawn' limit in place, I think that a MMO style game would have to place the players as Johnsons and the runners that they build up are assets... Expendable assets. The objective is to get money and power. Usually, this comes at the expense of someone else.
I would imagine that instead of cities, you would have corporations. But you might also have criminal organizations too. So, by improving your 'power' within a corporation or other organization, you get access to more of their funds for additional runs. Eventually, you might get enough power to do a hostile takeover.