This is only correct if my theory is correct.
My theory is that every time you level up a characteristic from food, it gets harder to level up each time so you have to get more FEP. When you die, Depending on your tradition/change you get to keep some of that. I also think (not sure if this part is true) that when you reincarnate that the meter is reset to the starter amount of all players.
If my theory is true, then would it be worth it with full tradition, that when your character is too hard to level up you can die, come with 75% stats and gain stats much easier than keeping your main?