Respawn timer is too fast
I take it you mostly play in soloq. Against a premade or just against good solo players, every death is a punishment. Games are lost in soloq because one death results in a snowball effect and a tricap impossible to overcome. Watch some of the tournament games on this channel:
http://www.twitch.tv/guildwars2
There’s the Go4GW2 cup tonight. Watch it and tell me again that death is not punishing.