Li Shenron
Legend
Valid point; we're still not sure what the 5e economy is going to look like.
I think it would be best if 5e didn't have any economy set in stone except at the 1st level, when the characters still haven't been adventuring. After that, it would be nice if a DM didn't have to strictly measure how much treasure to shell out if she didn't want to.
Anyway I think that setting prices for "services" (i.e. spells) in D&D is always a bit dangerous, because what looks expensive at a certain level will normally become cheap or outright irrelevant at higher levels. It's the same problems with Rituals, and could be one reason why Mearls has said they might just remove their costs.
Some people would prefer that there be little or no penalty for dying.
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On the other hand, some people think the dead shouldn't be able to be raised at all.
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And then there's many different preferences inbetween those two extremes.
Definitely.
A spell like Raise Dead actually serves mostly the in-between.
Those who want "no or little penalties" (this really means that they don't want their characters to die BTW), can just agree with the DM that in their campaign dead doesn't mean dead for a PC. It may mean knocked out for the rest of the combat or the day; it may mean to have a temporary penalty as if "dead" is replaced with "seriously injured"; it may even mean to have a permanent penalty. Either way, they don't really need Raise Dead in the game to represent these cases.
Those who want "death is permanent" obviously don't need Raise Dead. The DM can still have a rare and specific exception for a PC or NPC and base it entirely on narrative (it could also be a spell, but something so unique and complicated that will work only for such exception).
This leaves us with the in-between groups... I think it'd be nice to have an "optional" spell called Raised Dead to provide a reference standard, but as you say, the best solution is always going to be the group's own solution, depending on (1) if they want this only in high-level campaigns or also immediately, (2) if they want it to take time so that the penalty is being out of the game, (3) if they want short-term, long-term, or permanent penalties, (4) if they want it to cost money, (5) if they want it to work 100% of the times or less... really, the combinations are so many, that the best way not to make anyone unhappy is to make Raise Dead be a DIY spell!
