rtcvb32: Excessive Cheese... Totalbiscuit describes Cheese as getting killed or failing something where you had no warning, or no way to prepare for it in advance.
I actually think that this can work under a few conditions (I call these traps):
1. The game should make it clear that you should expect this. Ideally, this should happen really early, like in the demo or even on the download or store page. In particular, this should be a core mechanic of the game, not something that is tacked on. (Alternatively, this could be saved for some optional secret level, but the game should still make it clear.)
2. The traps are always in the same place and not random. For example, if there is an invisible block that messes up your jump, it should always be in that place.
3. The penalty for failure should be minor. Having to worry about losing all your lives, watch a lengthy cutscene, or have to start over because you lack a necessary item and can't backtrack are all things that should be avoided in this sort of game. Syoban Action handles this by having checkpoints and allowing your lives counter to go arbitrarily negative.
4. Ideally, deaths should be funny, and the same trap should not be over-used. Otherwise, the game gets stale.
5. Getting around the traps, once you know that they're there, should not require tricky maneuvers. On the other hand, puzzles work well. (My favorite are the goals in Syoban Action and (at least the first stage of) Eryi's action; figuring out how to not die after hitting the goal is an interesting puzzle in these games.)
Of note, roguelikes fail all these criteria and the developers should be careful to not make the game unfair.
Edit: My definition of a trap: Anything that punishes the player for doing something reasonable.