For me it's usually all about the story. Sims die sometimes because the story is going to go there. Sometimes I set it up to happen.. well this mostly because I'm not good with random death and I usually like to chose where my story goes and who is allowed to die. I can play a happy, happy, joy, joy save where everyone get's ahead and is friends one day and the next day I'll play a serial killer or black widow type of save or something along those lines. Even in heartwarming stories sometimes people die. It is part of life and can be part of a story... here in the sims you can even move their ghosts in afterward and bring them back to life.
I even read stories and watch movies where people die. It's a sometimes creative extension of that played out in the Sims. Then again sometimes I just want a ghost of every type.
The only time I watch it is if it's someone really entertaining and they are usually doing a challenge or telling a story.