The "once per day when you die" ED features are generally pretty good, but they aren't the last word in ED effectiveness. Isn't it better not to die at all in the first place? EDs which lack return from the dead clauses have other features instead, which may just keep you from ever dying in the first place.
Of course EDs aren't all entirely made equal, any more than PPs are. Given the huge variety of possible underlying combinations of class/build/PP/ED I doubt it would ever be possible to make really balanced PPs and EDs. All they can really do is try to make them so that characters have some good choices at each stage and that the best mechanical choices don't create a monstrously OP character. Going over PPs with players I've found that you really only have usually 2-5 reasonable choices. I'd think the same sort of thing holds for EDs. Out of those several choices chances are some will have resurrection clauses, others may have really good synergy with your character, and some like Demigod are just flat out all around good. Even if one choice stands out, it won't be the same one for every PC.