But with a way different result in the event of a failure.
looking just at engine reliability a single turbine gives you MUCH lower chance of failure than a single engine failure in your Baron.
Sure, and each person has to decide for themselves which is better. Good chance of a partial (but still potentially dangerous) failure, or slim chance of a total failure. Both options are sort of in the same price range, i.e. if anyone produced a pressurized twin piston these days it would be in the price range of a pressurized turbine single.
The fact that no one makes a pressurized twin piston any more, and there are several pressurized turbine singles, tells you what most buyers have decided is the lower risk.