There has always been raid-exclusive exotic weapons, but not armor. Raid armor now just provides benefits when killing an enemy type and doesn't provide any benefits to the raid, like D1 did. Raid-exclusive exotic armor could sort of be this way of implementing those kind of benefits for raids. They can provide a major benefit while in a raid, but also provide a minor benefit for general use, so that they aren't exclusively useful in the raid.
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Maybe not armor, but what about exotic ornaments or something for the raid armor?
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I don’t know hi I that would work. What armor buff could only help you in the raid? Dreaming city gear has the blessing, but what would only help you in say the black garden, or only against Vex but wouldn’t be o.p? Most exotic pieces help your super or sub-class. The only thing that comes to mind is no speed reduction and damage reduction when running through radolarian (Vex milk). But even that is stretching it.