Im a PS4 owner and i felt the same way when i found out about the exclusive gear. Isnt finding and upgrading gear a big part of the game? Wheres the fun in just entering a code and unlocking stuff.
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Essentially various mmos do things like this, but the contents are generally low level gear that help with the first 10 levels or so. Nothing super huge.
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Don't be deterred from what I'm saying here, you'll have access to weapons armor, and other things that will give you Destiny an extra edge to get to certain places and beat certain enemies. It's definately not a bad thing.