I kind of realised after playing this game for a while, that the reincarnation system is quite useful.
Because I have noticed that if a player dies, they do not die permanently. This is good in 2 ways:
You can transfer your achievements ACROSS lifetimes, such that a single death does not mean the end of all things.
You do not need to get a new copy of Evolve in order to get a new life. This is perhaps the best thing to date.
So in conclusion, I believe that Evolve has done a good job in adding a reincarnation system that ensures the transfer of consciousness in between lives.
I feel that it needs something like an afterlife to account for transmigration searching between lives. This could include a mode where our spirits can fly out of our bodies after death for a while, until get pulled into the tunnel of light, and reincarnate in new bodies. This will add realism to the game.