Lol Mortal Voyage permadeath is a challenge, hardcore is a snoozefest for challenge and is purely just about execution.
The Hound was the only somewhat challenging season and put a stop to multiboxers. As a matter of fact i remember once during that season watching the same multiboxer loose 4 of his toons level 18 consecutively(they all had the same name with a different number). I died laughing!!
All hardcore is, is money into the system and i think most would agree, if it wasnt this you could make it harder.
You could not have ship buffs
You could not have house p/j buffs
You could not have store bought items like augments/xp pots/beholder absorption items
You could have no hirelings allowed
You could have no chest rerolls
You could block all reentry into quests so that teleport and word of recall would come at a cost
And if you dont want it to be a farm(limit gear farming) as you suggested in response to my post allow each chest to be looted only once a week
My experience with hardcore is unless you are pushing to be in the top end of the leaderboards hardcore is pretty simple.