Not really. It's a choice the player makes. It's an option. How does that punish the player? They can completely ignore the option if they choose.
Sorry, my post above was unclear: I was speaking about critical fumble rules in general. Reckless breackage specifically is an optional bonus rather than a penalty, but as I understand it, it depends on Athas' flavour more than anything else. I do think that without either inherent bonuses, or a montyhaul scenario, I don't think I would ever use it; the risk of losing your best weapon (which is presumably what you'll be using most of the time) is 1/4, which is pretty damn big.
I usually play in Heroic and low Paragon. So, maybe that's why my experiences with the game lead me to believe crits could have been implemented in a more interesting fashion. And, my point still stands, considering only in 1/3 of the game - a portion of which I'd say most people don't play in - has "interesting" crit effects.
Paragon+Epic is 2/3 of the game, not 1/3rd. Specifically, there are several paragon paths that buff crits from as early as level 11.
Even without those, early paragon is when you're gonna see a significant jump in damage when you roll a crit, even without optimization. Just as an example, let's take an invoker using Hand of Radiance and a Staff of Ruin +3, who does not take Radiant Servant or its equivalents for an improved crit range. Note that Hand of Radiance might trigger more crits than most other powers (since you'll very likely have 3 targets if there are 3 targets available), but that a maximized 1d4 isn't that impressive. You'll see bigger jumps on powers which use higher amount of larger dice.
Without any other feats and a starting 18 wisdom, this would give us this:
Normal damage: 1d4 + 5 wisdom + 3 enhancement + 3 staff bonus = 1d4+11 damage, or 13.5 damage on average.
Critical hit: 15 damage (max normal) + 3d10 from the staff, or about 31.5 damage on average.
Without any crit optimization and with only a Staff of Ruin as powerful critical element, that's double damage, which is roughly what you'd get on an unoptimized 3.X crit.
If you have to optimize your crits for them to be impressive, that imho, is a missed opportunity for 4E's design.
That is not what I said, though. I said that optimizing crits was an important part of high-level Charop.
Now, if crits were simply not very impressive to begin with, optimizing them would be a waste of time, right? Still, there are several builds out there (such as the IMO rather stupid Twin-Striking Half-Elf Avenger) which are optimized to get as many crits as possible, and every Charop Guide lists the 'better critical range' feats and Paragon Paths as being among the most powerful in the game.
Final tip: If you want to see your crit rounds be more impressive, play a Rageborn Barbarian. Big weapon dice, powers with lots of [W]'s, and free basic attacks will make your crits into something to behold.