As far as we know, this is kind of what multiplayer would be like, except you don’t get the option to talk to the other player before they settle. So, in a public world (if that’s a thing), you would have no control over who your neighbors are. In a private world (if that’s a thing, too) with friends, you of course could tell them to go somewhere else.
But multiplayer is planned, so that is sort of this.