There are no repercussions for not renouncing PR status.
There is no law in existence that makes you "guilty" of not fulfilling RO or not renouncing PR.
Ivan Pavlov made experiments with animals in 1890's (you may have heard about 'Pavlov's Dogs'), and discovered what we describe as classical conditioning.
If you show meat to your dog and ring a bell , all the time, eventually your dog will salivate at the sound of the bell (and without presence of the meat).
Something similar is going on with PR RO and any repercussions associated with it. It's a case of classical conditioning.
The fact is: it's not the failure to meet RO that causes people legal trouble, it's something else ,such as misrepresentation of presence in PR renewal application, or in a Citizenship application, giving misleading or outright false answers to CBSA officer at the border to overcome RO and so on.
However, since these two things (failing to meet RO and criminal violations) often reported in the news stories together, eventually everyone gets the impression that there is something unlawful and criminal about not meeting RO per se, and that there could be "repercussions" for mere failure of RO or for not renouncing PR due to failed RO.
Rest assured that nothing terrible (such as jail-time, conviction of crime and etc.) will happen to you if you let yourself fail RO and never renounce your PR status. You will remain a PR de Jure , while de Facto you may be at risk of loss of your status anytime you attempt to do certain things (with loss guaranteed if you apply for Travel Doc from abroad, or other benefit, like PR Renewal from within, and highly likely if you are abroad and ever apply for admission at any port of entry and examined by CBSA officer).
In some cases, if upon discretion of CBSA you are allowed to enter Canada without being reported, despite failed RO, you can fully restore all the privileges by staying in Canada for 730 days.
CIC itself states that you don't have to renounce your PR status if you wish to visit Canada as a visitor, but you would save processing time at border if you formally renounced your status before returning to Canada, if you know your PR status is subject to revocation and you have no intention to contest it, but wish to enter Canada as a visitor.