My sugguestion ist the following:
Could you use the existing loot-system to give us some hints about the background story? It doesn't have to be much, but for me it's just not enough information.
Let's say players get an engram or a diffrent kind of object (mission-object?), when they complete a public-event or somthing like that. On this engram or object is a short quote, just a name and a sentence. So you would add some quotes to those we already have on weapons and gear.
I can also imagine, that rahool might be interested in trading these objects for glimmer (if you don't use engrams). Players would need to share theese information, so there might be players like me, who get a new kind of motivation to look for public events.
Even the bounty system might work with this idea. You could give bountys to players with a certain object, collecting other information related to this specific object would make them progress and the object they can trade more valuable. So there would be a nice way to grind and farm glimmer, or material and by doing that discovering some secrets.
Maybe it would need a lot of time and trouble to obtain relevant amounts of additional information .... but bungie .... i would die for that!!
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i think that would be like the legendary bounties kinda giving then a little back story how about instead of xur selling the actual weapons and armor he just sells bounties and we have to do some pvp goals and some pve special story kinda like the thorn bounty that would be fun and challenging. the better the weapon the harder the bounty to unlock it
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I vote they just let us read Grimoire in-game...