The issue is one of recollection. But I must agree, there are definitely times when I feel there is something profound within the concept of reincarnation. The spell still exists in 5E, and I think it would make a great topic for a story line. Imagine being reincarnated, and then going back to the things in your former life, but viewing them through different eyes! Whoa.
That is almost the story of Pillars of Eternity
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