If it was already like the Wild West I wouldn't have used that in my analogy of what the world would be like without bold suits. I'm afraid you have either lost me, or are taking me in circles. Either way, I am getting dizzy.
What is being suggested here is kind of what it was like after the reset no? The rush for Made Man and setting up Crews and familys? I cannot see anyone in a position of power allowing something of this nature to happen, since we already have a 'crime sindicit' in place, a heirarchy (another term I use loosely). Even one city being like that would spread the chaos to others.
A different set of rules in a secluded area would set the foundation for your so called 'spectical'. Are you really sure you would want something like that though? Its called 'organized' crime for a reason. Un-organized crime usually fails with dire consequences.