You have to understand this game is constantly evolving and changing with every dlc/update. To keep the game fresh bungie has to make new stronger weapons to entice you into playing their new content. The best example i can think of is in a game i used to play called runescape the whip was once the best weapon to use in the game. Then new stronger weapons came along and made that weapon much less desired. Its no different here. If your just doing low level content your fatebringer is still useful but for the new content you will want to use the new gear/weapons.
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Should be able to upgrade some guns still... The issue Is you should only be able to get for example 1 etheric light overall per week per user (not character) this would slow development etc n give people more to work for. Value the upgrade more too
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No you shouldnt be able to upgrade anything but exotics.
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I think one gun/armour per week if you have 1 character isn't a lot let alone if you have 3... Would take you 3 months to upgrade 3 characters with old armour to the new level cap
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I think one gun/armour per week if you have 1 character isn't a lot let alone if you have 3... Would take you 3 months to upgrade 3 characters with old armour to the new level cap