Yes, and that where "trust" "preparation" "adrenaline" will have a meaning, and people will learn/have to know each other very well (will not of course be very pick up friendly server....), and too it's where we will see courageous people will try to save some of the others when the wipe is coming.
as i said "he Saved my/our life" will mean something, personnaly i dont know any mmo where it's can happen
And same for the meaning of the word "Sacrifice" "Run for your life peeps, let me die" or "leave me, i will slow you down" will create epic story to be remembered and true reputation "This guy sacrified his level 17 to save the whole group" some true epic video could emerge, "Sacrifice of <Insert name here>, level 22 necromancer on the permadeath server" not another "how to rush Temple of the burning soul in less than 22 minutes"