Let's say I have 1 hour to play per session:
Decided to unlock the monoliths and then grind mobs the rest of the play session.
We then died at one spot where there was red mobs all over the place, even on the road and was impossible to pass. (bad choice??...maybe)
Tried for the time I had left to retreive the bags, but could not.
Next play session, I needed to find a good group to help get my bag, but I couldn't.....I grinded mobs just for the XP or leveled another char.
It took 3 play sessions of my hard earned free time, to do something I didn't liked at all......
Note that this is not a true story, but it will happen. Actually something similar happened, but I had more spare time this session and I could forfeit my bag because there was not much in it, but it made me think about it.
All I'm saying is, this type of mechanic, is frustrating for players with limited playtime and i'm not sure, but most of your customers will have limited playtime.