Toggle doesn't make ANY sense. It's just like the turning grass on/off. Everyone is basically forced to turn grass off at the moment because if you don't, those who do will have an advantage and will spot you easier.
In the same way, those who play with third person view would cleary have an advantage over players who play on first person view. Again, everyone would be forced into third view and the gameplay would change in a way that it wouldn't look like Rust. The feeling of the unknown is the main thing that made this game so fun. Again: third person view would ruin that.
Seriously, I really hope Rust stays in first person view. This is the worst idea since the lockpick and I simply fail to see why they are thinking about doing it.
You're forgetting there are some people who don't pvp...that being said, I don't know this percentage. Maybe it's less than 1%? Maybe when Rust is complete they won't have pve? I won't play the game then...but in the meantime I will...so the toggle would work for me.
I find it similar to say, GTA...whereby I enjoy the ragdoll physics of my avatar eating dust...I can't enjoy that in 1st person...again, just saying