In my honest opinion, the bottom three players should not have a chance at legendaries or exotics.
That could by my level 30 elitism talking, though.
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I don't think they should get nothing - as new players coming in will always struggle and may well get put off (whilst damage is levelled out, newer players may not have maxed out their skill trees putting them at a disadvantage). I do however think that the chance for loot should scale according to your position in the overall ranking (including both teams).
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Everyone gets something so get out, you don't even deserve elitism with your one 30.
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0 to 100 real quick.