Henry
Autoexreginated
I would say that (based on the opinions most people in this thread have espoused) most players want a risk of character death, but a low risk of character death - especially since even people who think 5e is too forgiving tend to list death as LAST among other possible losses.
id say maybe it would be helpful to quantify the risk level. What is ‘low’? On average, 1 PC death per entire campaign? Per 10 sessions? Per 4 sessions? Per every other session? (I’m pretty sure not many would agree with that last one.)
for me, if character death is not so risky that it averages out to about 1 per two or three months, real time, I’m OK with it, because depending on play frequency, that means I’ve had a chance to go through at least one story arc with him or her. That also means, on average, I’ve had maybe one PC die in a real year’s time, and the other times have been with the other three or four players with their PCs instead. (TPKs for the group doing something monumentally dumb notwithstanding.)
id say maybe it would be helpful to quantify the risk level. What is ‘low’? On average, 1 PC death per entire campaign? Per 10 sessions? Per 4 sessions? Per every other session? (I’m pretty sure not many would agree with that last one.)

for me, if character death is not so risky that it averages out to about 1 per two or three months, real time, I’m OK with it, because depending on play frequency, that means I’ve had a chance to go through at least one story arc with him or her. That also means, on average, I’ve had maybe one PC die in a real year’s time, and the other times have been with the other three or four players with their PCs instead. (TPKs for the group doing something monumentally dumb notwithstanding.)