At the very least everything past rank 3 should be retro-awarded. Technically you've already earned the reputation. It's completely silly that those who DID level the factions and vanguard are at a disadvantage to those who didn't bother.
A vision of the Bungie head designer kicking a poor player into a bottomless pit and shouting "THIS IS BUNGIE!" as they fall to their deaths suddenly crossed my mind. They seem to have that little respect or regard for their players. I suspect that, like me, people were giving bungie one last chance by waiting for the DLC. To be told you need to re-grind to get back to where you currently are will be that final kick in the chops that we need to move on and say "ho hum we tried to like it"
Edit:
If Bungie are truly trying to respect their players then the Raid guns from VOG should be leveled up to match their Crota's End equivalents (Tier 1). The raid gear should also be boosted to be equivalent to Iron Banner Tier 1 level 31 gear too, even if that means a gear progress reset. It's just plain nonsense if the gear won from the new iron banner is now going to be better than gear obtained from a raid!
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Lol that "this is bungie" line was great. Well played.