I don't have a problem with the penalty from death. The problem here is the insane inconvenience to run back to town, un-equip everything, be able to put only HALF of my items that need repair in my bazaar, and sit around and wait for stuff to get repaired. Sure, I could visit the repair NPC. Cost me 17k to NPC repair my weapon. 10-13k more than normal, for 75% durability.

As a side note, I'm not just being punished for dying, I'm being punished for soloing. You don't get durability loss if you get raised, at least according to the patch notes.