I'm NOT trying to tell you how to run your game (presumably you and your players enjoy it) but I find that death rate extremely high. Far, far higher than I or most of the people that I play with would tolerate.
As a side note, of course you are. You just did. There is no reason to be apologetic about it. Presumably mature people enjoy hearing other peoples advice about how to run their game; they just don't have to agree with it. Presumably mature people are happy about that. But you don't need to pretend that you aren't trying in some fashion or at some level to persuade people over to your opinion. There is nothing wrong with that. I bring this up only because its a personal peeve of mind when people say things like, "I'm not trying to be insulting...", or "Meaning no disrespect, but...", because in my experience the vast majority of times people do that what they are next going to say is the opposite of what they said their intention was and the indulgence or pretence just made it much more (I'm sure quite unintentionally) irritating.
Anyway, that aside, I basically agree with your point. High death rates are not particularly conducive to creating deeply meaningful, highly immersive, and compelling stories. And it may be that bloodtide plays the way he does because he doesn't care about such things, but if I may hazard a guess, I think from what he says about his stance that he does. In particular, a statement like, "Then your just reacting a cartoon or a Disney movie.", tells me that he is also motivated as you are by the desire to make deeply meaningful, immersive, and compelling stories (stories here contrasted with sterotypically shallow children's stories).
I think you fail to fairly grant just how difficult this problem is. For my part I don't feel like there
is a lot of room between: "There is a LOT of room between "Killer GM" and "characters are immortal" I think those two things balance on such a fine knife edge that I've never really been able to successfully maintain such a balance for long. Death and not dying are absolutes. There really is no proof that the characters aren't immortal unless they die. Crafting the perception of real threat without occassionally having to make good on that real threat is very very hard. Sometimes players seem to go out of their way to get themselves killed. I mean what we are really asking is to play for hundreds of hours with a real risk of death, facing obstacles that require real effort and intelligence to overcome, and yet never once have a failure on the player's part. That's HARD.