Hebrews 9:16-22 tells us the death of Christ was essential. The New Covenant could not be established without it. Remission of sins would be impossible if He did not shed His blood.
The first covenant was established with the blood of animals; the second with the blood of Christ. Hence, the latter is far superior to the former. Its requirements and our resulting obligations and gratitude reflect this. Let us honor the blood-sealed Covenant of Christ.