Like many, I would very much like to see myself doing both raids every week on all my characters, however at the moment the original raid has been surpassed by even the vendors at the tower in terms of raw stats.
Bungie has probably already got something in the pipeline but here are my 3 thoughts on what could happen.
First of a basic patch that brings the vault gear up to Dark Below levels. It probably won't happen until the Hard mode for Crota's End comes out (or later).
Second would be to have a new lv32 tier, which will drop your +36 light / higher attack weapons. The thing I wouldn't like about this, is compared to doing a raid on Normal, doing a raid without the capacity of reviving wouldn't make it worth it unless you really, REALLY wanted a certain piece of gear. Also if the normal mode level was just bumped up, that would obviously cut off lower level players from being able to do a raid until level 30. So I hope nothing like this happens.
Thirdly, and this is the one I'm most keen for, would be to have an upgrade system like the Exotic weapons where you can upgrade the previous raid's gear with materials you can ONLY obtain in the next raid. It would be sort of like transferring your Pokemon from last generation to the new one, you would do it because you liked it and wanted to keep travelling with it (or just for the Pokedex entry :p).
Alongside these, they should also adjust the loot drops to how they've implemented it in Crota's End, where all armor is dropped in Normal and primary weapons can only be obtained in Hard mode as well as any other changes they've made to make the rewards feel less like you are being trolled.
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I think they should but it's already been confirmed that BUNGIE will not be upping vault of glass' level or gear.