Imo I feel like they are pretty valuable. You can't buy them from Xur anymore and they're the only way to infuse all of your new exotics. The only way to get them is to dismantle exotics now. And exotics cost either 20-30 strange coins from a dismantled exotic that you buy from Xur or hours if play time from which you get an unwanted exotic drop. To me that's pretty valuable. They are pretty much the rarest currency in the game now and I don't have any atm. I for one wish that Xur would sell them again, so I wouldn't have to dismantle an exotic to upgrade one.
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We can get exotic drops ? Even with 3oC I haven't gotten one yet, nor have I had a legendary engram turn exotic. I had to purchase every y2 exotic I own, other than a couple from quests.
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Ever since they nerfed the ToC, I only get 1 exotic per every 7-10 ToC that I use. I have had several of my legendary engrams turn into exotics. But, it seems to me, like this only happens when I've gathered a ton of engrams from the 'Heroic Strike Playlist' and when I have a ToC active (I almost always have a ToC active anyway, as I never really know when I'll run into an Ultra.) Anyway, I can't tell you that these parameters are necessary for your legendaries to turn into exotics. I can't confirm it. But, I do know that those seem to be the circumstances, when my legendaries do turn exotic.