They without doubt had this discussion years ago and tested out different variations of the idea.
Maybe it just wasn't fun falling down all the time, hindered flow when playing and so on.
If it's not there, I assume there's a good reason for it.
Just like with anything you learn to do, if you fall all the time, you are not following instructions. Imagine climbing up the mount everest and ignoring all instructions. That's essentially a death wish and no I'm not saying the game should be like real life.
There's a reason Mario still has consequences for failing to time a jump. It's not saying we have to punish the player like we some evil school teacher but instead help reward the player for doing well.
The reward for executing a climb to such high stages should feel rewarding. Instead, it's just there and it even takes away from the sting and meaning of a leap of faith. How is it a leap of faith if you can't fail the climbing to reach such high point.
Sorry Ubisoft, I love you guys but do something about the climbing, it's a wasted opportunity for activity that's so constant in your game.
I mean, if we want to remove all consequences, let's give the character iron lungs so they can swim forever