Similar to Iron Banner all ranks will be reset on Tuesday, per the DLC release notes. This will allow new and existing players to compete equally. Level 5 crucible will be required for the upgraded legendary gear. I believe this is quite fair. It will allow everyone to earn the right to buy the new upgraded legendaries at the same time in preparation for Iron Banner 3.0.
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As a result of the new DLC everybody's weapons will be nerfed to give newer casul players an edge. You must be light level 9000 to lead a fireteam in to Crotas End, then you must commune with RNGesus on Bungie. Net to even have a chance at raid gear. Players 12 and under with be given free Vex Mythlocasts and a limited time event where they can cheese the final boss of the raid.