One problem with fast travel is much of the game is missed. All those unmarked buildings, random encounters, merchants that do not go to bases. Bethesda is the master at putting in all the little details to reward exploration, and if you fast travel you are not exploring.
I am currently doing a no fast travel playthru and the game is much more immersive world. I thought I would need fast travel for saving settlements from themselves against raiders, but you can run across the map in time as long as you avoid randos. However I do still need fast travel to warp my stuck companions back to me so they would need to add a dog whistle before I commit to a true Fast Travel lockout.
No fast travel does go with survival, because you will consume more time and resources while traveling - and survival mode is more about managing those time and resources than normal mode is.