You still lose ammo when dying or going to orbit if you have armor that increases your magazine size.
I understand why certain things (especially major exploits) are getting prioritized ahead of fixing the ammo bug but I also have to believe Destiny has more than a few developers working on bugs and why can't at least one dev get put on issues that are more annoying to players as a whole?
Although to be fair if I didn't like playing Destiny as much as I do, this probably wouldn't frustrate me as much. But nothing is worse than using a heavy ammo synthesis and see it slowly tick down during wipes in a raid. Gets quite expensive.
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The most annoying one is when your inventory is full and you use one and get nothing, then have to wait for the cool down