Silellak
Cipher
So why provide consequences if you're a keystroke away from erasing them anyway? Not much point, is there?
Because the option is there NOT to just load your game and "fix" your mistake. Some people like to load after screwing up, others don't. Bethesda is basically saying "Aw, don't worry, we'll make sure you can never, ever screw yourself over TOO much."
It is in the spirit of Fallout to let you completely and totally screw yourself over if you decide to do so. For whatever reason, Bethesda has apparently decided to remove that possibility.
You may not have realized this but: IT'S A GAME. It has 0 chance of avoiding a feeling of gaminess. Even if your idea of "consequences" were in effect it would feel like a game because I can't do everything I could in real life to dodge them. It becomes an apparent game mechanic more than anything else.
Of course it's a game, and will always to some extent "feel like a game", but with RPGs in particular I like to immerse myself in the world that game takes place in. To me, having an entire town forget I killed half the people in it 24 hours after doing so is a lot more immersion-breaking than having them remember it was me. Neither are a perfect, realistic reaction, but I think having them remember is a lot better than having them forget entirely.
In Fallout 3, it seems I can affect the world, but only as long as I don't break the precious plot path the designers have laid out for me.
This is how most modern games are, but that's not how a Fallout game should be.