In short, yes.
However, it should be noted that, for the most part, characters do have some implicit limitations/tiered power levels that the writers tend to honor.
It's fairly well accepted, and predominantly demonstrated that Wolverine is screwed when facing Magneto, because his adamantium skeleton has been deemed magnetic, and thus under the purview of Magneto's undisputed realm of mastery. Quite simply, I can't recall anywhere where Wolverine's muscles have proven stronger than Magneto's control over his skeleton, leaving Wolverine as Magneto's plaything.
There are, of course, exceptions that mostly fall into two categories: power creep, where a character's abilities and strength in those abilities get inflated over time by writers seeking to "one-up" previous stories; and aberrations that generally become infamous in the comic fandom community for how outrageous they are in ignoring conventional wisdom about how a matchup should go. As the perennial example of the latter, reference Dr. Doom's defeat at the hands of Squirrel Girl, whose only power is her psychic command over normal, natural squirrels.
As for death.. it's mostly treated as one of the conceits of the genre. Somebody famous, whose name I don't remember, once said of science fiction that you count on the reader to allow you a certain number (I think the quote says the speaker generally considers 3 to be the magic number) of conceits, that is, unrealistic rules for the setting, before rejecting further fantastical elements.
For standard superheroic comic books, those conceits are, I would say: 1) the heroes and villains can have superhuman powers; 2) the heroes and villains' powers, or perhaps the destinies they've carved out for themselves in the greater course of the world, allow them enormous latitude to "cheat death;" and 3) the public at large is generally ambivalent or even supportive of masked vigilanteism.
So, yeah. It's something that most readers/fans will just file away as part of comic-dom. Sometimes, writers will be much more self-aware of how silly it can be, and will touch or break the fourth wall to point it out self deprecatingly. This is usually a stylistic thing, though, and most often occurs with comic relief characters whose normal behaviors and actions do this on other subjects, too.
It should also be noted that there are usually a few editorial edicts about sacred cows when it comes to death. At least, there are on the Marvel side; I'm not versed enough in DC to say whether they have similar taboos. I don't think even the most bold and radical Marvel writers have ever brought Uncle Ben back, for instance, and the twice (?) that bringing Gwen Stacy back was even teased caused a pretty big uproar, and hasn't been approached for two or three decades, now.
_________________ "Aaaah! Emotions are weird!" - Amdee "... Mirrorshades prevent the forces of normalcy from realizing that one is crazed and possibly dangerous. They are the symbol of the sun-staring visionary, the biker, the rocker, the policeman, and similar outlaws." - Bruce Sterling, preface to Mirrorshades
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