This gets into that definition of "campaign" @Umbran was talking about. I don't consider new players with new PCs years later in a different game system to be the "same campaign." There's no real continuity between them, except for the GM.I allow the TPK, then typically continue the campaign later (anything from next week to years later) with a different PC group. Which may have the same or different players.
It's more common in my non-AP campaigns, but I had a TPK at the end of book 1 of Rise of the Runelords. I had Sandpoint burned to the ground then continued with new PCs, players and rules system a couple years later. In the example I'd impose a negative consequence & likely have the same players roll up new PCs to continue.