On the fireteam list below my power score, instead of listing my level it simply has "2" and thats it. Other members of my fireteam see the same thing.
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Destiny 2 introduced a feature where, emblems would display things like the amount of kills as a striker, nightstalker, voidwalker, etc. There's also emblems for how many (prestige) nightfalls you have done, how many competitive pvp wins, how many public events. It should say what, when you hover over the emblem. Changing it to an emblem that doesn't have a built-in stats feature will display your power level.