I put in a suggestion for this early in 2.0. The concept is that it would be permadeath, but you upon death, you could enter a mini-game in the lifestream to bind to a Primal. The level you died at would determine how strong your Primal form was, such as number of attacks and strength (how many people it would take to kill you as a Primal).
This whole concept would require a separate server, most likely, as it would be somewhat "PvP" based (class/job players vs. Primal players). But it would result in an endless struggle for power between good and evil. Players leveling classes would try to get as high as they could in level before dying so that they could try and bind with a strong Primal, and killing the strongest Primal players would net you the best stuff, since the attacks and battles would be more unpredictable. Ultimately, you'd pick a side (Primal or class/job) and wouldn't want to give up your powerful stance, kind of balancing out the playerbase.
But........ this is a major revamp of the whole concept of FFXIV themepark. A little too ambitious, though I adore HC mode in games. I went into great detail about abuse, rewards, servers, population, the lifestream mini-game, target demographic, roaming Primals, and Primal creation in my suggestion. Too bad it's not popular enough for this generation of players.