As long as they don't make all of our gear irrelevant next year I'm happy with the current system. Although I do miss Destiny 1's original level system, it actually gave you a sense of accomplishment.
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The original did give a sense of accomplishment, because you worked for armor that gets you to max level. The idea is even with another DLC/Expansion that the old stuff will still be relevant. Say the Light goes from 30 to maybe 40. The old Raid gets you to 38, but the new gets you to 40. It gives you another way to reach 38 besides Nightfalls, Iron Banner and Trials. Or Vanguard.