No, I'm not talking about those funny reddit threads (insert "Graphics are great, but gameplay sucks" joke). I'm talking about a roguelike game, kind of like Dwarf Fortress Adventure Mode meets Unreal World Meets The Sims 3.
The problem with real life is the difficulty, the element of random chance (you can be spawned as a peasant or a billionaire) and the fact that it's permadeath (unless you believe in some religions). I was thinking of some game where you control this guy and just... live. I don't need the entire world, just a city or a town will be fine. However, I need complexity and features. The first update should just focus on the physics engine and the biology of your character. You just stay locked in a room with very little things and just interact using the game engine, which should allow you to do little things like pinch yourself in specific regions, lick everything (even the walls).
Eventually new updates include more feature such as items, being allowed to roam around in your house, the procedurally generated town and so on. Dwarf Fortress Adventure Mode focuses on fantasy medieval times and is mainly adventure but this one is in modern times and is pure sandbox. You should be able to have job (where you actually work) and so on.
Now most of you are thinking, sounds boring, if I wanted this game, I would just live in the real world. But the fun would come from the little random breaks from reality. If you're bored, suddenly you kick your co-worker in the face, smear chocolate on your genitals and walk around the entire town naked. Knowing how twisted Bay12 members are, I won't be shocked if one player cuts open a baby in the park and eats them (anything possible in the game engine is allowed).
As long as you use ASCII graphics, such a game is possible. I just wish I knew how to program well, or else I would've tried it myself.