This is a question that I was asked not too long ago by one of my old Matrix Online buddies who's in the gaming industry. Long story short, MxO tanked due to a lack of development even after SOE bought out the game, but while the game lacked any sense of serious progression or new content, one of its main-selling points (at least for me) was the live roleplay interactions with developers that were controlling actual lore characters. They could mold the game's storyline in real time, and by doing so, give players a direct interaction with the game's lore in a way not possible by doing streamlined quests.
King Varian Wrynn (controlled by a CDev) spends a night walking about Stormwind to incite the people against the Horde menace, where he involves the server's population in real time. It'd be possible for him to react towards players in-game, even acknowledging or giving them commands (say to a Stormwind-style guild) as a major leader in the Grand Alliance. Developer commands could be used to create events/actions that would not normally otherwise happen, similar to the abilities of a GM.
The CDev-controlled NPC would presumably act as we know the character in lore, and any action the CDev takes would canonize itself automatically.
As you might guess, this gives the CDev a lot of power in real time with the game's lore, more specifically its characters. Also, from a realistic point of view, I'd probably only see these sorts of events happening on roleplay servers - which would provide a benefit for playing there, as opposed to PvE or PvP servers which are uninterested in this sort of thing.
Do you feel this sort of interaction would benefit you as a player and/or a roleplayer? Such an event would not be mandatory for you to participate, nor would you get a benefit over others for going. Those who'd miss the event would be able to get a summary of the night's events in a positive light via an official outlet online.
I personally would welcome this, but I'd like to see what the community has to say as well.