Nice idea, could be done, but isn't the of priority right now. Unless the new outpost update gives you the option to start your own faction/sub-faction a flag can be a nice addition.
But I do see you problem, this game lacks the UI to display story or events in detail (In fact, all dialog is made to support game mechanics, there is no content generating stories or RPG like quests even.).
The current one works, and hopefully will get a revamp if there's going to be a campaign of some sort, but Alex said no before to a campaign and advocated an open world simulation.
I would love to have a campaign or story to flesh out the lore, but we can only hope that this is on Alex's 'future of the game' concept book.