I do agree, and it would add a lot of interest to the game. Say, for example, you were in a space battle near a space giant. You're losing badly, and your only option is to flee. With FLT down and only the gas giant in sight, you decide to head to it for cover. As you mentioned, electronics may go down, stopping you from sending a distress call. The majority of your systems are down, resulting in you being stranded. Likewise, other crazy events could happen on any planet, depending on the situation. It'd just be really cool if you crash landed on a scorched planet and you find yourself surrounded with lava and volcanoes.
On the technical side of things, they could keep it simple, such as disabling systems, weakening blocks, or maybe, even cause voxels to break if the climate is too deadly. (Like a slow corrosion on a toxic planet.) Could be quite hard to implement though.