Players Select:
3.SkillSet:M points to skills(allocate skills at char creation, using Component Skill Sliders or Component Skills)
4.Stat Allocation:N points to Stat
5.Start Location/server/realm
After this the character cannot be changed(except if to switch/reset skillset/stats build) and is equivalent to every other player with same stat/skill allocation - forever.

1.No bots: there is nothing material to gain.
2.Fair balance:PvP/PvE doesn't need to address any items.
3.No item dependency. No loot. No farming/searching/trading.
4.No need to Level grind: all content is tuned to one level.
5.Ideally suited to Arena/MOBA style Action-RPG or PvP duels.
6.Adventure-style quests can become important, unrestricted exploration(since monster masses are not needed: no levels)
7.Open-world PvP can be tuned and adjusted easily(Realm vs Realm pvp becomes a skill game).

A less restricted variant:
An itemless game(aka Skill-only RPG) is where you use predefined(N start points to spend) character skillset/fixed equipment from start and don't have access to inventory/trade system, but monsters/quests/character levels and most attributes of RPG exist normally(except economy).
Character skills/appearance are selected at start and not typically changed.
It provided fair PvP and can be used as main mode of gaming for more minimal game systems:dependencies and balance issues are confined to skills and NPCs,
allowing skill-only or roleplay-only systems. Without focus on acquiring items/resources RPG depths of quests and adventure can be explored in controlled manner(as there is no economy, game focus can be combat, exploration, quests,etc).
For improving fixed equipment see: