Most games never get that much play time at all.
You're delusional. If after 200 hours I can't expect to have nearly everything, a developer is delusional as well.
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I'll agree with you on that point, to an extent (depends largely on the genre) - as an RPG player, I find this whole RNG system foreign, and the entire idea of locking gear behind time gates and luck isn't my thing. But, as I'm often reminded around here, Destiny wasn't made for me - it was made for people who like "looter-shooters" (whatever that means) and want to spend 6,000 hours playing the same game and getting different loot every time they kill something or talk to a vendor. (To me, those players are the delusional ones - playing a game for thousands of hours is one thing, expecting it to be "new" and "unique" every time is a level of grind most people don't want.) I'm not necessarily happy with some of the changes or the grindier direction the game's taken, but Bungie didn't make this game to appeal to people who like to "finish" games, they made it for players who want to spend another 2-3 years playing every day and always have something new to chase. A lot of players will leave between DLCs, either when a) they get bored and move on or b) they get everything and move on; the grind element of the game is meant to push the "get everything" option farther out and keep more players playing longer, at the expense of some players getting bored sooner due to lack of certain gear. I see both sides of this, because I have a ton of RPGs I could be playing right now with the weapons I want, the armor I want, the skill trees I want, and a "final" boss to beat, and I play Destiny for the story and gunplay, not the gear (much like Halo or other FPSs, which have limited weapon selection but feel good to play) or end-game - different genres of games have different rules, and Destiny can't seem to make up its mind which genre it wants to be in, but one of its rules is "Exotics are rare and random," so it's up to the player whether to play for the story, run the Raid, and call it a day (where 200 hours is reasonable), or to play long-term to collect loot or just enjoy the experience (functionally infinite).