Nice first post Al Killmore, very insightful for one so new.
I think there is a benefit in separating the first day noob from the others, give them time to learn about the game and experience it before opening it up to them.
Dont care about the money side, ie: whether they deposit or not. I would think very few do that in the first few days anyway, and they might eventually deposit once they understand the game.
One thing that I think is a good thing about a noobi continent is that information can be given to them in a controlled way. The guides and "approved" mentors can roam the place and inform them of scams, auctions and shops etc....
Most online games have some sort of "introduction" level that lets the new player get their feet wet before they are let loose in the full world.