i dont really see it being a problem, the time it takes to build one and let alone move it to where it needs to go, if you lose it once and dont have an adequate line to hold, you'll lose anyway so being able to get your titan back doesnt make much of a difference unless you get help or your titan bay is wayyyyy back.
As the way things are i think its fine, im guessing it's just another group of players not doing what they should in certain situations..
Lets look at gameplay and think, if you are fighting a pretty big battle with high level titans, you're going to have skirmished before, on a largish map? with multiple planets, which may or may not have a lot of defence, you're going to be fighting on someones world rather than a neutral, so we'll take defences into account, it's unlikely mid to late that back worlds would have much defence as both players would of put money into their forward or stalemate areas/and fleet.
So you kill the other players titan, and maybe his foundry? If not its not too far away, you proceed to kill the starbase on the world too? assuming there is one ofcourse, if not you will chew the rest of his fleet up, may lose your titan too but you win, So this guy loses his titan, its unlikely hes looking to build it again anytime soon, even with the res he should be thinking, oh dear, need to either fortify or pull something huge real quick.
You shouldnt worry about mopping this world if there is only defences, move to back worlds, find the foundry and attack eco, split your fleet, sooner or later you win or he gives up.
So where in this does him getting his titan back come into play?
I think having a titan coming back at the same level is a good balance, your titan will of leveled more since his died, even if you're unable to push too much further, its such a significant time and money set back, its hardly fair to remove the levels.
And we're just talking about the titan, let alone the rest of his fleet.
Sorry guys, people here need to think more, i'm not the best player but lets not have the game controlled by a community of morons. Balancing should be left to devs and perhaps input from the upper tier of players, since they understand how the game was mean't to be played.