I understand your perspective.
Note its an optional system that is on by default but can be turned off. More info about what it does:
For me its a great system. Its still got the “need to do this - now” feeling of pure survival, where not having an incremental save right before you do something adds a lot of pressure. I find myself with a sub-optimal outcome many times, like using too many bullets or being crippled or missing with key explosives, which adds to the overall survival pressure and fun.
On the other hand, dying does NOT make me repeat content. I can get 75% of the way through some infested underground section, carefully looting as I go, and then dying to some unwinnable (at that level) fight against 3 raiders at the end of a tunnel defended by a turret. I re-spawn back at my settlement, which is not close, with the loot I managed to grab still in my pockets. With caps deducted for the healing.
Without this save system, I would have a) incrementally saved every 30 seconds until that big fight, replaying that fight multiple times until I got lucky and won or b) had to re-do everything in that whole encounter from right after my bed save including travel and the whole complex.
The result is that in a 20 hour character file I have only saved and reloaded (from a bed save) 3 times in one specific difficult section. I have “revived” 10 times, re-spawning back at my settlement. 10 revives in 20 hours still means I am playing slow and careful, which has saved me from having to re-play 10 sections of the game.
In a normal system I would have saved something like 400 times in 20 hours, and reloaded probably 60 times.
For me, saving and reloading or replaying content breaks my immersion. I would much rather “wake up” back in the settlement, then decide to explore elsewhere. I don’t want to call it rogue-like, because its not, but it forces a similar style of careful but consequential game-play.