I think this is actually the least likely implementation/result of “the ripcord”. (Disclaimer: I’d like this stuff to be as flexible as possible.)
I made a long post after getting into the Beta a month ago about this already, but it isn’t just the two abilities; everything is interwoven in impossible-to-separate ways. Sing along with me!
THE ABILITY’S CONNECTED TO THE … SOULBIND
THE SOULBIND’S CONNECTED TO THE … NPC
THE NPC’S CONNECTED TO THE … COVENANT
NOW HEAR THE WORD OF THE MAWWWWWW
I’m quite familiar with what Timbaeslice and the ripcord contingent want, and after playing the beta, I don’t think you can disconnect them from the covenants at all.
What you could do, however, is allow players to maintain their efforts with all four covenants simultaneously, and share Renown. The “talent row” wouldn’t actually be a choice of abilities, but there could be a spot in Oribos (or another tab in the talent(N) window) where your entire covenant changes, not unlike engaging War mode. It’d switch what your next Covenant Campaign quest was, remember it for each Covenant, etc. No more penalties for “switching” covenants as you’re the Maw Walker; you’re buddies with everyone.
Short of this kind of setup, I’m not sure we’re going to get anything useful.
My forum post from a month ago (for more detail):