In Don't Starve (single player), the Old Bell is one of the most interesting features of Reign of Giants DLC. However, sadly it got removed in DST because Klei is afraid of griefers in public servers in a co-op game. By that logic, torches and hammer should also be removed because it can be made in day 1 and there's NOTHING you can do to prevent people from burning down your base.
Even when your base got burnt down, the roll-back feature can restore it. The same can be applied to Old Bell.
The old bell, however, can only be made by learning ONE blueprint from the glommer statue, and is only craftable every 20 days, from day 11 onwards.
I don't think any developer should remove a feature from a game because of things stupid people do in PUBLIC servers and affect the vast majority of player-base, especially in a coop game - which most players play privately with their friends. We have reached the end of A New Reign dlc, but Klei has not done anything about Glommer, leaving its materials still as useless as ever.