Its been a little under a month, and the loot drops are just terrible.
Crota's End: I BARELY got a complete set of armor for one of my characters, no duplicates of any armor. One of each weapon obtined luckily enough.
Vault of Glass: THREE armor pieces between two characters, not including class items. LOTS of duplicate weapons. Literally my last raid was ALL duplicates.
(Not including the other two because they're too new and I quite frankly don't like playing them)
What happened? Year One, we'd get two raid pieces per drop. Now we are lucky to get more than one! Its like the game just tossed me an item in disgust.
EDIT: So I get I'm one of the luckier ones and I didn't really make a strong point, so I'll just say this: Duplicates. I remember some time back that Bungie stated they rebalanced the drop system to avoid duplicate drops. This has shown to not be the case, hence my ire.
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Yeah not sure what Vault you ran in Y1, but it took me forever to get all the gear for all three classes because it was shards and weapons the whole way for me.