"HP" revives would still be limitless, only Energy revives would be limited.
In general, this is not what CE is bought for - I'm pretty sure anyone who buys CE buys it simply for crafting, upgrades, more playtime and the such, without really having revives in mind. It's simply one of those money sinks, however in this case, it's too extreme of a sink. I have met several players that on impulse have spent over 4000CE on revives. Even I did crazy stuff like that once, on my very first Vanaduke run, although I didn't go all that far.
The only issue I have is that it might take funding from the game, and new games really need a strong income or they don't last long, besides more often then not me and my friends do the hp in half method, something I don't want limited.