I'm the kind of person who really enjoys realism in games and I'm definitely looking forward in enhancements made in these type of games. In a survival game, for example, I really think once you die your 'character' you should actually just be gone then, but obviously you can get a new one and start again. I'd really be triggered that once I die I wouldn't be able to play the game again (and that game probably wouldn't sell very well, imagine hackers xD).
Realism to me also goes along with the right graphics, so I can set myself into the actual scene of the game, if that makes any sense to you. I actually like games like Arma 3 or 2, simply because of the thing I just mentioned - the game has the graphic along with the realism, if you get hit, you are most likely going to be dead or severly injured. Some mods for the game also add some really neat medial systems (which are also quite important for me in those games saying that they are so-super realistic) which encourages players to help others, and also give the hit person a chance of surviving.
I think that items in such games, once you actually have died, should then be gone along with your dead body on the floor, ready for other people to take them from you. If people like to play realistic games, I guess they have to get along with the fact that once they die, their items will not fall from heaven into their inventories again.
tl;dr: please more realistic games gaben but complete permadeath not very good idea