Completely ridiculous.
I had already decided last week that these keys were not worth the trouble, usually only giving lackluster legendarys and all even on the 35s.
Unfortunately this new exotic bounty requires opening the a chest, over 3 Hours later.... "Omfg finally"
Bungie, these keys are not worth the trouble like much of the HoW content. Increase the drop rate or increase the key's worth.
Either is fine.
EDIT: For the record, I was using the multi chest method on skywatch for most of the time, and also ran 3 28s.
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But you probably got like 50+ engrams and the likely chance to get legendary, and you probably got a few legendary from ranking up! I've farmed them quite a bit, but yeah getting a key is nice, but I enjoy getting the engrams more. I've had more than a dozen + legendaries off those chests