Sad to see another victim; RIP to a fellow sledder. Cooke isn't inherently dangerous, if you avoid those avalanche-prone slopes. I haven't rode much there, but it's definitely a place you want someone who knows it well to show you around before you attack anything steep. I do know Crown Butte, Daisy pass, and Lulu are hot spots. If I end up riding there more often in the future, I'll be looking for someone to show me around, and I'll be treating those spots that have claimed lives like Indian burial grounds. Some people are willing to accept more risk. I'd just say to that: it's your life, but make sure you're not putting others at risk (high-marking above people in a runout zone, leading others into danger).
By far the best money spent is on an avalanche awareness course (more valuable than any set of gear, if you take the lessons to heart). I went through Six Points (
https://www.avalancheclass.com/), but there are plenty of good ones. Complacency is something we all have to fight, maybe for myself especially since I don't routinely ride slide-prone areas. We as snowmobilers really should get better at assessing snowpack up close, even though that's an imperfect tool. One great point I took away from the avalanche course is that even if you don't know what to make of it, it slows you down and gets you out of the over-eager new snow giddiness. To be honest, I don't have an air bag. It's a risk assessment: I could scrounge for one, but it's twice the price of the gear I already have (gear that I'm more likely to use in a rescue), and I only occasionally venture into potential danger zones. For whatever you think of that, people have to get out of the checklist mindset. Beacon - x; shovel - x; probe - x; air bag - x; avy report yellow or better - x. Ok, lets rip! Something like half the avalanche fatalities had checked those boxes - like
@Solarguy mentioned, simply getting caught in a slide has a pretty high risk of death even with all the gear and a trained crew - but the warning signs are usually present if you know how to look for them. I definitely recommend all the gear you can afford - the best gear you can afford. At the end of the day, however you have to think of it like a bulletproof vest. You'd much rather have one if you're in danger of getting shot, but avoiding and minimizing the risk in the first place should be the real goal.