What happened to DM empowerment? I thought you were free to do as you liked.
Yes, it's not that it can't happen, but generally, you have to step in to make it happen. Items don't make saving throws, and there is no Sunder/Disarm maneuver. That having been said, some spells (
fireball, for example) do talk about effects on objects, and there
are rules for destroying objects.
So you could rule that, "sorry Fighter Joe, your Broom of Flying had all it's bristles burned off by that pyromancer!". Of course, whether or not magic items can be damaged/destroyed/repaired is again up to the DM, just as whether or not NPC thieves can rob you of them.
What I think Lanefan is really saying (and correct me if I got the wrong impression) is that loss of money
doesn't matter very much in 5e, and by default, you're probably not at risk of losing magic items as frequently (whether or not you even
have magic items, as they are deemed "optional" content, is kind of up in the air, but I assume most groups use them, I just cannot say to what degree).
5e not being about building fortresses or gathering followers, it comes down to- spend a few gp between adventures on refilling ammo, buying rations or
healing potions, maybe pay for a lifestyle if you want.
Armor users tend to have one big budget purchase, but beyond level 5 at the latest, it's all money that exists primarily to pay for spells. Wizards have a huge cash drain if they want to get all the spells they can, but other classes really don't. Your money primarily sits around unless you need to pay for transportation expenses (horses, ships, airships, what have you) until you need to pay for a
heroes feast or something.
Now again, I'm sure some DM's find ways to make money matter, but by default, the game doesn't let you do much with your accrued cash, so when you're 10th level and sitting on thousands of gp, the big problem becomes where do you store your wealth? In one game I played, the Paladin just took 50% of his money and used it to tithe to his church and build orphanages, and he was still never strapped for cash.
In this environment, once you have access to casters who can bring back the dead, death is really a speed bump...
between adventures. The problems of a player dying mid-adventure still remain.
I could make a game where characters who die return to life between adventures and it wouldn't really affect anything. The only real detriment to death is not being able to play your character until the adventure is over.
Which is really where I've had all the problems with character death.