Doesn’t feel punishing at all if you die. Just keep a stash with backups and either get PL’d or speed level yourself because of your stash and you are back to having 250 Paragon points.
Sure you have to re-level glyphs but that will take very little time at all with your stash gear. Just don’t really see the challenge or point in HC atm
Although I am sure it still goes on, it only feels like a nice way to avoid most of the RMT crap.