From my perspective, there is no point. You pay a lot of glimmer for sub par armor that doesn't give you as many attributes than ToO gear. And it's not even light level maxed. You still have to ascend the armor.
Also, the weapons. Statistically, the weapons are okay. But what's the point of offering these weapons so often if you don't give them perks set in stone? Make them special. They oose how unique they are when you spend 400 motes of light just to reroll the same weapon until you get final round or shot package. Anyone have similar thoughts?
EDIT: I appreciate all your feedback and maybe I should look at it from a different perspective. It is a great way to get etheric light(not that I need any). But is it [b][i]really worth getting killed by a thorn?[/i][/b]
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It does make no sense, especially the XP factor. I played it when it first came out and realised I was wasting my time, no matter how well you play, if your team loses you still end up with zero points towards your XP for Iron Banner. And only two for a win (unless it has now changed). I prefer normal Crucible, even if your team loses in that, you still get points towards your XP. So, I stopped playing it. To be honest though, I very rarely play PvP as I really do not like PvP in any shape or form.