Its a gimmick mode with no real narrative ties to Iron Banner or the lore of the Iron Lords. Its tragic how badly bungie does not understand its own game (cloud striders in metallic crop tops in a hidden golden age city styled after a cyberpunk caricature of 80s miami and titans swinging through the metropolis on magic super string webshooters?). Wth!!! IB is a deep lore mode of guardian vs guardian face offs to test their mettle in preparation for existential paracausual threats from the beyond space and time under the eye of the iron lords greatest warrior and the towers maestro of the crucible. You will be judged by your performance or be laid low in defeat. It should be all about stacking up bounties and as you pass goals and have wins you are rewarded. So simple. Leave your fun and funny and crazy modes for crucible labs. Its just a mess...and worse completely unrewarding.