But a lack of any objective morality is a huge problem. This is especially true if there is no mutually agreed upon arbiter/decider/court system, which, of course, would require some mutually agreed upon moral code. If everyone decides on their own morality then any society & the world at large will tend to devolve into chaos and disorder. Indeed that is how dictionaries often define "anarchy"(1). It becomes a situation of who has the power to force their will upon others. It becomes "might makes right" with the only real restraint on the use of power being each individual's personally decided moral code... which isn't based upon anything other than what each person thinks at any given point in time.
1).
https://www.merriam-webster.com/dictionary/anarchy
anarchy
noun
an·ar·chy ˈa-nər-kē -ˌnär-
1
a: absence of government
b: a state of lawlessness or political disorder due to the absence of governmental authority
the city's descent into anarchy
c: a utopian society of individuals who enjoy complete freedom without government
2
a: absence or denial of any authority or established order
b: absence of order : DISORDER