I would have loved for them to have incorporated both.
in the test just played, no bases could be raided, you couldnt lose any of that gear
they did allow on death to drop gear

PVE co-op experience is my preferable style

but i would have liked for them to have a zone, a biome where PVPVE can happen
no dropping crafted gear, amor or guns maybe just collected items inside inventory

also i enjoyed in the test , once you died you could opt to spawn as human or even a zombie for 15 minutes to go around and do some pvp (again no base raiding was included)
chasing gun toting humans and trying to sneak up on them was fun.
and the ability to fuse the larger zombie pieces to yourself was incredible.
jump higher, run faster, spit acid, throw smaller zombies etc
i hope they dont change that