So I've been to the lighthouse a good amount of times now in year two, and I've only received two sort of worthwhile guns: a 317 Doctrine and a 318 Inward Lamp. Everything else has been well below those light levels and I feel that's absolutely ridiculous!
Going to the lighthouse is FAR harder than a challenge mode raid (which gives a guaranteed 320) so I'd expect the lighthouse to also give comparable rewards. I mean, you can't even get armor! What is the point of beating the hardest challenge in the game to get a single 313 (on average) gun?
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Trials bounty will give up to 320, Lighthouse will give both weapons and armor up to 335