Sea of Thieves

I'm just reading about the game as a newbie, and it seems like if you get jumped while carrying loot, there's all to lose, but nothing to gain.

I just want to clarify, does the aggressor have anything to lose, other than their time? Does the attacked player have anything to gain if they win instead of running away (other than experience?)

If not, shouldn't there be some detriment to starting and losing a PvP battle, even if you had no loot onboard?