Consequences Doesn't Necessarily Mean Death
I've read a lot of discussion recently about people complaining about lack of consequences and I think there's been a lot of discussion around the need for death (or a lack of need in the counterargument).
But I think we've also seen a lack of other smaller consequences that have left us with feeling of unchangingness. Losing a limb, a sense, the ability to manipulate aether, the ability to walk, a friendship, a sense of self, or status are all major consequences as well. Becoming a fugitive or the enemy of the state are, too.
We've seen some of that, but increasingly less frequently. Even small consequences or changes of status seem to have disappeared from the main cast. And it removes all tension when you get that gut feeling that nothing major is going to happen to them.
Our heroes are no longer dealing with significant loss or forced change and the few times we do see it, it sticks with us. Dealing with loss and the threat of loss is a big part of being human and crucial element to a lot of storytelling. Death is just one form, but there are so many impactful forms of loss that can be explored.