02:35:20 PM Feb 3rd 2013
In Duke Nukem Forever, Word of God came up with similar reasoning to the Uncharted devs. Apparently, it's not health - it's an 'ego' meter. You get shot at. You feel less awesome than you did a few moments ago. It's also why doing all those seemingly ridiculous things like winning at air hockey and looking in the mirror increase the amount of hits you can take.
07:49:45 PM Feb 9th 2012
Last time I saw this trope, it was called Walk It Off. Just now, I was thinking about what a bad name that was, and how "Regenerating Health" was a way better name. I came here to suggest a name change, and when I found the page, lo and behold, it was called Regenerating Health. Well done, tropers.