Acceptable #2: It's hardly a new idea
While Allie's 'death' may have shocked a lot of viewers - it certainly was more bloody than many deemed necessary - it's hardly the first example of death used in a pro wrestling storyline.
Take the Undertaker as perhaps the most obvious example. As part of multiple storylines and his own gimmick, the Dead Man has 'died' a number of different times, which made his eventual resurrection all the more dramatic. Many of Undertaker's gimmick matches directly involve death or dying in some capacity; Buried Alive matches, Coffin matches, and the like.
Too, when the Powers of Pain left the NWA for the WWE - some say because they were legit afraid of the Road Warriors - the NWA announcers came on screen and declared that the Warlord and the Barbarian had been 'destroyed' by the Road Warriors, and there was 'nothing left but grease spots on the arena floor.'
The idea has been around for decades, so there's no point in getting uppity about it now.