Yes, that I agree with. They'll need to completely redesign perks and look at handcannons from a new angle, or else nothing can or will ever trump Fatebringer.
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In it's relative time frame, nothing probably will. Fatebringer will probably be around for a little bit after the next expansion. It's kinda obvious they made rookie mistakes with itemization. Etheric light only made the situation worse and allowed them to be completely lazy about design choices for HoW.