Yeah im getting the same thing. Reinitalised, reinstalled about 15 times and no good.
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Looks like initializing did the trick. Starts up just fine now. Just make sure you back up anything you need since it erases everything.
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What is this initializing you mention? I've got the same issue. I've deleted the old application and re-installed from the disc. Am I missing something?
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It basically wipes everything and reverts the ps4 to factory settings. Just make sure you backup any saves and screenshots since it wipes those too, although usuallly your game saves are uploaded to the cloud automatically. To initialize, go to settings and scroll down to it. Then chose the "quick" option. Once its done, reinstall destiny and it should work.
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Thanks for the reply. I will have to try this next.