Amen Brother! I can only reiterate all you have said. I've been in it since day one too and have worked for all the prizes. I liked putting the effort in to getting weapons that were exclusive that no one else had, but could get.
My frustrations are every time someone complained about not having a bad ass gun, Bungie nerfed it and they nerfed many times making it not fun to fight. "Squeaky wheel gets the grease".
Crota was the last fun raid. Friends didn't mind going through a few times to help friends, but King's Fall requires too much grind and no one wants to go through it more than once per week.
I am hanging up my hat at 309 light. My Brother is 317 and he is too mostly due to the low crappy drop rate for all the hard work and the in game purchases??? Bad idea.
A bunch of us have recently purchased the other popular games, but haven't played them because of the massive grind it takes to keep up every week in Destiny.
My final comments are to Bungie: Bungie, I think you are reaching YOUR destiny!
It has been fun, but not anymore.
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i have the taken king now thanks to a friend, trust me when i tell you.. it isn't worth $40 at all.