While reading your post I went another way with it, keep PvP the way it is, and make the story cross platform.
I know it sounds strange, but this is the best of both worlds. We can play with all our friends and at the same time when its time to enter the crucible, we can play with our clan mates.
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I was thinking about including that possibility in the post, but it started to feel too long winded. But I agree! It is a happy middle ground.