Whats wrong with it is the kind of behavior it reinforces. designers should have thought about how the players would react to the concept of no power ceiling and hard opportunity cost.
I'd rather APs get strong, be competitive in cf despite dying. Any mechanic that limits risk taking to the extent players only take fights that are a sure win, is a bad mechanic.
At its core the concept of age death goes against the core tenet of cf.. "carrion" I feel, probably the only one, that if you take a character to age death as anything other than pure support.. you have failed at the game.
more risk, more blood, more death equal gooder.
ps
Umiron please stop nerfing things