I seriously never understood this new tendency in the past few years of creating huge open worlds and developers bragging about how their latest games have and even bigger open world than other games, when everyone seems to think it's a hassle to adventure in these worlds and just want a quick way to get around. That's why mainstream mmos all have teleportation. My questions is why bother creating a huge world? Seriously, what's the point? Why not just make a smaller and compact world that people can conveniently travel around?
The game isn't all ghost travelling. There is no teleporting other than when you want to go home, or if you're close enough to the priest you're hoping to port to. Yes in some cases it is more efficient to ghost run to the nearest location, farm for a bit, buy what you need and then return home as a ghost again, but in other cases (like when you want advanced CC and animal care) you're much better off farming the gold at home, gearing up, and making the trip for the books.
There is also plenty of content that requires you to be geared up and ready for it (like a dungeon) so you can't ghost travel to the location, you have to ride there with your character ready.
But if these adventures go wrong...I'm sorry I will already be pissed that I died and lost my stuff and time, I don't want to have to lose more time to returning home as either a ghost (better case) or a naked (worst case, which you basically suggested).