Sorry, it 'sounds' cool, but I can't believe this would be entertaining to play long term. The permadeath in this case sounds annoying.
And if it's persistent, then at some point all houses will be scavenged and the loot will all be in the hands of a few people.
And any game that makes you fuss with eating and sleeping is annoying to me. I enjoy immersion as much as anyone, but having to actually do the mundane things I detest in real life, in a game?
Yeah no thanks.