A Battle style game mode where players are only afforded one life per round is fun because it increases the risk of death. When you have only one life, everything you do matters that much more. Winning a 1v2 where everyone involved will respawn lacks gravity. Battle is where I made friends who I could recognize by their character models and heraldry choice, leading to fun banter and rivalries.
I hope Bannerlord will receive an update including Battle mode soon.