I think that since they already committed to support last gen for destiny 1 they should do that. Once destiny 2 comes out though, I will be surprised if it's still on last gen.
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I wouldn't. Despite what the forums say, around 1/3 of the player-base(myself included) is on the 7th generation, as a business strategy it would be poor to cut that. [spoiler]I also don't want to lose all my progress because some rich kid doesn't like the 7th gen.[/spoiler]