Bungie is changing the numbers for weapon dammage and armor level, essentially they are reducing the numbers. They are also doing the same for things you kill in the game.
These are not exact numbers but examples only (i dont know what the new numbers are):
So lets say the new max weapon level is 200. All your max level 365 weapons will be translated into what ever % of the new max level is. Lets say it 60% of the new max level your 365 weapons will be 119.
Since enemies are being reduced also 119 weapon will still do the same amount of dammage to the enemies as it does now
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Well that clears things up a bit.. Still keeping my vanilla legendaries, I just can't part with the guns that first made me feel like I was "legend"