A release outside of NA would be a separation of community. People have a hard time making a japanese account or don't want to play there because they are scared of a sea of kanji, and bringing it to NA has made a lot of people consider it. Now, I'm european (spanish to be precise) and I've told people about this release. A lot of them say "I would play NA if they don't make an european release" which puts them on hold and they won't play. One of them in particular would hate having to start over.
A release in SEA or EU would split a community that was already split by the japanese barrier, and now that its gone we don't need to send them in different spots. PSO2 uses a P2P kind of system to determinate your results ingame, I noticed it after I've heard people ask "where is this shifta/deband/resta coming from?" and I've learned that if you dash away in your screen but in mine I managed to hit you with a resta then you would be affected by it regardless.
So, in conclusion: Would be bad. Should've been named PSO2 international but it wasn't.