The insurance company coughs up a replacement, and delivers it to where we last docked; this may not be where our ship was toasted. We don't die. CMDRs are technically ejected into space, and then when someone finally picks up our now 'in stasis' puny meatsack-in-a-can, we awake back in our ship (lore wise, time has elapsed, giving the insurance company all the time in the world to replace our ship) as if nothing changed.
Because, much like simulating pooping in a game isn't really useful use of people's time, that time is instant for us. It's not actually instant in a lore sense. But for game reasons, it's made instant. Probably why frontier are suggesting instant ship travel. Because maybe it's not worth having a time cost? Plausibly. But the entry barrier of credits, instead, is so insanely low for anyone that has a few mil in the bank, to be effectively irrelevant.
Also when you die, there is a cost; loss of potential revenue, loss of faction rep (if missions were active) loss of cargo and so on. That's sufficient enough that most people don't expedite moving around by endlessly committing suicide. But, the option is there, if needed. Sometimes people go space mad and space their puny meat-sack corporeal form and hey presto back to the bubble. It's useful. But perhaps not constant best approach?
Ship transport is none of these things. It's absolutely encouraging commanders to bin FSD choice for anything apart from the taxi, because anything else isn't as efficient on time. It's now the defacto method to move around. That's brilliant, but does make a complete mockery of jump range & shakes up a lot of in-game mechanics. Pretending it doesn't change anything, or that it's just like dying, pretty much ignores how incredibly expedient ship travel will become.