A comparison between Exotics I've found and Legendaries (W/ Good Perks). This only applies to Weapons.
Exotics:
Hard light x2
Red Death
MIDA Multi-Tool
SUROS Regime
Thorn
Icebreaker
Truth
Legendaries W/ Good Perks:
Bad Seed Down-Headseeker, Field Scout, Play and Spray
I'm coming to the conclusion exotics are far overhyped. A balanced legendary surpasses most exotics in both gameplay and "cool-factor".
I'd like to see some engram-based legendaries w/ good perks you guys have.
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I will agree that many Exotics do not have abilities that make them worth the "Exotic" title. The cool-factor though, all Exotics I have seen look bad-ass and the legendary gun models match the rares most of the time. So I would disagree with "Cool-factor" as they look cool but agree many are not that amazing gameplay wise.