Only thing of the sort is being attacked while mounted in frontlines, which gives you a massive speed penalty. In the open world you can take hits while mounted without a hitch.
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Don't see how having to stop to heal everyone back up makes it more immersive or engaging. All it does is waste time. People aren't trying to roleplay their way through the dungeon with a bunch of random strangers. They want to get to the end, get their loot and get out as fast as possible.
Now adding a RP mode to dungeons for pre-formed groups to toggle on that would include things like fall damage might be an interesting an idea. I don't know how much extra work that would be for the developers, or if it would be worth their time if too few players choose to use it.