yeah, it is not like we didn't see instant respawn in the past. Works quite well if the game is build for something like that.
A limited "arena", you can't see things in the distant (because of the level architecture) and where it would be possible .... fog.
I really don't know why people now a stressing that instant respawn thing? This was never unusual only some games load a complete other world state while others don't reset anything (expect for the characters life).
Loading screens from a closed game to start menu and from there loading a previous saved game, those times are interesting. Everything there in around 10s is more than acceptable. Just don't want to wait minutes until a savegame is loaded any longer.
And what most people forget, there is more than just loading the data. Worlds must be build by the CPU, NPCs (and their actions) placed, objects set, ...
Load times in games with procedurally generated content, won't load that much faster, only because of bigger CPU (and here and there a bit because of the better IO). People are just expecting to much from the IO.
It is good that the IO is no longer THE bottleneck but somehow people seem to think that a game is like a video file, that must just get decoded and displayed on the screen.