I think some people get it and some people dont.
If videogames are considered an art form, then this game would fall under abstract art.
Here is abstract art that I can look at an I have no idea what the artist is thinking about.
Here is another piece that I can make some guesses on. You can look at the Image URL for explanation for each.
I value image 2 more than image one and I bet some people will like image one better. There are some people that dont like either image. Its all subjective.
I look at Limbo and question why they called it Limbo. I question the black and white imagery. I try to get into the head of the designers. Much like a person would looking at the above art. I think some people here have really figured this game out and it appeals to them. You are in Limbo, neither dead or alive. You are not afraid of death as death only puts you right back in Limbo. The goal is to get out of Limbo.
Ever had a dream where you realize your dreaming in the dream and you just want to get out but dont know how? Thats how I would best describe limbo to me. Thats the thing though, there is no real definition of Limbo. Its something you dont experience when you want to. So in a place not easily explained, why is death such an issue? Thats the part you either get, dont mind, or dont like. Much like the pictures above. Its all subjective.