That's the reason my family plays on 4 player hosted.. Ike you mentioned on server you loose everything if you have a job in rl and can't babysit your stuff. Unfortunately this weekend we had a rude player hop on our "private" 4 player family game, while 1 player was off. And wreck stuff before we caught him, so now that's not even safe. Hard to have fun when feel game is geared towards online players who have no job or ban together in large companies. Doesn't leave much consideration for chill players wanting to relax and adventure at our own pace.
Same in 2022. I wish they'd add split screen. Alternatively my family set up 2 TVs and 2xboxs side by side and host a "private" world to get similar experience... But random players sometimes hop on, which is annoying. Most kindly leave when you tell them it's a private game, but one emptied all of our food, maps, and supplies into the ocean before we caught him. Password lock doesn't seem to actually lock. Super annoying.