This is a great idea, but it shouldn't apply when you have no chance of respawning.
I think the penalty should become less severe depending on the conditions of the game when leaving:
VERY HIGH PENALTY
- The players are still choosing characters, or haven't dropped yet
- Any time before 30 seconds after landing
HIGH PENALTY
- Your character is still alive or revivable, and both of your teammates are still alive or revivable
- Your character is still alive, and both of your teammates are still alive, revivable, or their banner has not expired or has been recovered
- Your character has died but your banner has not expired or has been recovered
MEDIUM PENALTY
- One of your teammates has died and their banner has expired
NO PENALTY
- Both of your teammates have died and their banners have expired
- You have died and your banner has expired
- You are still in the lobby screen and have clicked the play button, but haven't been matched to a team yet
- Your squad is eliminated (obviously)
