Again, if Vecna killed Max in episode 4, then the quota has been filled, and in terms of risk to main characters, there no longer is any. Not to mention that her death early on doesn't do anything - it's killing off a character for the sake of just killing someone off. It doesn't serve a narrative purpose. Death for the sake of death is NOT a good literary tool.
When Game of Thrones killed off Ned Stark, it had a purpose. When they killed off Rickon Stark, it was pointless. And Rickon living would have been MORE pointless than Max living in ST, so, yeah.
(disclaimer: not talking about end of season, will hold judgment on that)
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"Bordate is a pretty shady place, what with the gangs, casinos, evil corporations and water park." - FAHtastic