I don't think so, considering we have multiple avenues to get to 400 already.
IB
Skeleton Key rewards
Raid
This is so much easier than Year 1 trying to get to 30...
English
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But how do factions differ from other non-raid methods?
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I think because faction increases are so much easier now: Pop a rep booster, do a few heroic strikes, and cash in on the faction reward. Plus you walk away with the possibility of an exotic engram or a skeleton key. In Year 1, building rep for a faction, or the VG, or the Crucible, was a pain. Took forever to get anywhere. Now, you can knock out a faction increase in an evening. If it was handing out up to 400 LL gear, everyone would get to 400 over a weekend with little to no effort.
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Again, how is it any easier than post match PvP rewards? How's it easier than Archon Forge?
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You don't get 400 LL gear from forge except for ghosts, class items and artifacts. And PvP rewards are not consistent - you are not garunteed a legendary drop at your LL or higher after every match. With Faction rewards, you are garunteed a legendary drop. That is the difference.
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You're also not guaranteed the spot you need. I get a class item or sidearm literally every time I level FWC. So it's really no different. You can get more legendary drops in 30 minutes in the forge than you can get grinding rep all day.