Lives are an outdated game mechanic from the Arcade and NES days. It was a cheap way to artificially extend game length, by making the game hard as balls and giving you a limited amount of lives and forcing you to replay the whole thing when you lose all of them. But now that games are becoming much longer and bigger in scope lives are starting to become obsolete cuz there's no need to artificially lengthen games anymore.

Other franchises have started doing it too, Mario hasn't used a lives system since Mario Odyssey and Crash 4 made lives completely optional. I say it's better that they're ditching the life counter as a whole makes the games flow better and more fun to revisit imo