From an instrumental viewpoint, I hope you plan to figure out how to make everyone sitting around on a higher level credibly precommit to not messing with the power plug on your experience machine, otherwise it probably won't last very long. (Other than that, I see no problems with us not sharing some terminal values.)
figure out how to make everyone sitting around on a higher level credibly precommit to not messing with the power plug
That's MFAI's job. Living on the "highest level" also has the same problem, you have to protect your region of the universe from anything that could "de-optimize" it, and FAI will (attempt to) make sure this doesn't happen.
I offer this particular scenario because it seems conceivable that with no possible competition between people, it would be possible to avoid doing interpersonal utility comparison, which could make Mostly Friendly AI (MFAI) easier. I don't think this is likely or even worthy of serious consideration, but it might make some of the discussion questions easier to swallow.
1. Value is fragile. But is Eliezer right in thinking that if we get just one piece wrong the whole endeavor is worthless? (Edit: Thanks to Lukeprog for pointing out that this question completely misrepresents EY's position. Error deliberately preserved for educational purposes.)
2. Is the above scenario better or worse than the destruction of all earth-originating intelligence? (This is the same as question 1.)
3. Are there other values (besides affecting-the-real-world) that you would be willing to trade off?
4. Are there other values that, if we traded them off, might make MFAI much easier?
5. If the answers to 3 and 4 overlap, how do we decide which direction to pursue?