They're almost completely useless. The only reason i rank up nm is to get a shader. That's the ONLY reason. They need to be more involved and more useful in TTK. Let them have their own quests and more rewards, not just a mote of light. How anout an exotic weapon to each faction through a quest? I've seen their exotic items but who knows if we'll ever see those. An extra $20 maybe?
Any other ideas?
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Factions are one of the biggest wasted potentials in this game. Seriously, it's like Bungie just said, "Screw it."