I'm pretty sure Etheric Light is a Year 1 thing only. Makes sense to me. Bungie would want us to use the new weapons on offer. The new attack power won't be the biggest deal for this expansion, since when TDB came out, Fatebringer was still the dominant Hand Cannon, even with the lower attack power, but eventually the old weapons should be phased out, just for progress' sake.
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Exactly this. People keep saying that the old weapons will be obsolete but if they just increase new attack to 400 they won't - a 365 Fatebringer would still rock. If they on the other hand increase damage to 500 and ligh level to say 40 - I think old weapons would have a very hard time competing.
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And eventually, they shouldn't. I love my Fatebringer, Found Verdict, and Gjallarhorn loadout as much as the next guy, but to hold onto that for 10 years wouldn't be progress. I'll fondly keep them in my Vault when the new Fatebringer comes, but we should eventually use new weapons.