Haven't tried that yet, but I guess that tag wouldn't last long, since you won't be able to maintain your reputation status and, sooner or later, you'll get friendlier or angrier with other faction. That'd take out your tag, according to your theory, if there's such a delicate balance to maintain a faction label.
Here is my tested theory:
In my server I often change the faction players start out with. There's a bunch of lines in the mpnewchracter.fl file that set what each faction feels towards you. There's also an empathy.ini file that describes how each faction feels towards every other faction. When I applied the default factions to a new character, the tag shows up properly. Outcast, Blood Dragon, Navy, Rheinland police, Bretonia police, and many others show up beside my name just fine.
Do you want to have the zoner tag next to your name? You need to be as close to neutral with all factions as possible. For factions like police or criminals, you need to like, hate, and be neutral to the same people as they do. The close you come to the faction settings in the empathy.ini file, the more likely you'll get their tag on your name. It has nothing ot do with your ship, your creds or weapons, and not just how the faction in question feels about you, but how all factions feel towards you. Hope this clears things up.
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There is no knowledge that is not power.