3catcircus
Adventurer
Aside from the complexity, death spirals can be infuriating for most players. That's reason enough for WotC to shy away.
At least in my experience, games using death spiral mechanics are generally only infuriating for players who haven't really come to terms with the type of game that uses them.
Another type of "death spiral" example would be Call of Cthulhu - every character either ends up dead or insane so why would anyone want to play such a game?
If you are looking for crazy Wuxia style combat or minimal complexity, then hit points are ok. If you want something more simulationist, complex or gritty (especially for modern genre), then a wound system with the possibility of shock, bleeding out or "lights out" one shot-one kill mechanics is a necessity.