As a blaster player myself, I don't find it worth while.
The time punishment is not worthwhile for people you splat. As the time difference goes from 8.5 seconds -> 9.3 seconds. Which is a noticeable difference sure, but it's nothing too defining.
Even then, the special loss is way too much to trade. Losing 72.5% of your special every time you get splatted is too much for me. Especially for slayer type weapons that can't paint much. Mostly weapons like the blaster, sloshing machine, and slosher deco, just don't like having to build up their specials again.
If you're needing to run a certain amount of abilities and you don't have the room for respawn punisher, don't bother with it honestly. The time and special delay is an okay bonus towards your enemies, but if you're getting rolled over with respawn punisher, you're likely going to do nothing for the rest of the match. Since you can't get your specials going, and you're out much longer than your team.
"I'll just use quick respawn to counter the effect" Luckily, Respawn punisher nullifies the quick respawn effect. Which again, sucks for you if you wanted to use this with less harm to yourself.
In my opinion, respawn punisher is a double edged sword, but the sword seems to be sharpened more towards you. Most of the time, it just isn't worth the risk. On the topic of slayers, slayers typically like to take risks and start fights.
Respawn Punisher just doesn't support that type of play. That's more of something a defensive player would have in their mindset. Mostly on a long ranged weapon like a splatling or a charger.