Does anyone keep playing after they die?

Yes, Because it doesn't work that way. The time since last death value has an upper limit that you can reach no matter how many times you die; Dying is only a temporary hit to your game and loot stage.

There is no situation where, when you die, you're permanently locked out of that 5gs/ls you lost. You just need to stay alive for a matching number of days it took you to die that first time; In your example, a 20hr save w/ 1hr days, that'd be 20 days.

Further, Player level alone will eventually get you to the max game and loot stage and keep it locked there even if you die.