Okay, so I've actually done some testing, and it was pretty painful seeing as I had over 1200 Motes of Light before testing this and I've used 1k of them to do this test.
I remember before Rise of Iron's release, it was mentioned that the faction drop rates for ships and shaders and some armor and weapons were bugged and not dropping propperly. This was mentioned to be getting fixed with RoI, and upon release I didn't see anything different, but I also started with a faction I already had everything in. Upon moving from Dead Orbit to New Monarchy on my main, I started leveling it up seeing as I only needed a Chest, Heavy/Primary, and the Ship from it.
After spending a little over 1,000 Motes of Light, 400+ Heavy Ammo Synths, and all of my armor and weapon materials, I ranked up New Monarchy about 15 times total, and all I saw were class items, ghosts, 1 heavy, and arms. I didn't get a single ship, chest, primary, secondary, legs or helm during that whole process.
So I submit that the faction drop rates are still broken until someone at Bungie can show me otherwise.
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I seem to be getting wounded every single time. Though I like it cause the wounded is good