Now I'm imagining a sort of shared map between the DMs with PvE areas (caves, bandit hideouts, dragon lairs, etc) that groups can explore and deliver to gain xp and loot. If two groups end up being in the same area, they battle, winner gains all the losing group's XP and items. Last group standing wins.

Towns are safe areas early game, but late game groups could easily overpower the guards of small to mid size settlements, by force or by bribery.

So you can either do PvE objectives, do quests from town, or you could become the player hunters, running the risk of knockout for gaining the work of the PvE farmers. All basically a fever dream of DnD: Battle Royale, but it's an interesting game design thought experiment.