No, it wouldn't be easy if there was a centralised database. It would require way too much bandwidth, it would be too slow, and it would make your game lag every time it needed to load new stuff from the database, which would be each time some guy ran past in some piece of armour that you didn't have in RAM at the time.
The game is huge, and it reads from the hard disk a lot. Even with a 20 Mbit connection, it would be like walking though 10 feet of mud each time you loaded a new zone. And this is assuming the server where it was stored could actually send data at 20 Mbits to each of the users.