40 seems fair for the the amount of content being added. I wouldn't pay more though. If the content sucks, then I will take the loss, I still have 700 hours invested, a couple hundred more isn't really a bad loss IMO. That's how buying/updating video games works these days.
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Destiny wasn't a bad game. But since the last two dlc had half the stuff available to those who didn't (basically you bought something to help speed up getting the best stuff) so the idea of it happening to TTK is a problem