Ok. I've got a different thread going trying to figure out if my current vault is going to be trash. From that and other threads I think I've got this figured out.
Bungie is changing Destiny to a model where all armor and all weapons are basically seasonal. When EoF releases, you can choose to run old loot and not gain DR or damage bonuses, or you can get new loot and gain DR and damage bonuses.
The when Renegades releases, all the stuff you just acquired may still be tier 5, but you'll lose the DR and damage bonuses. So you need to re-grind to replace all of that T5 stuff you just spent 6 months earning.
If that's going to be the game model, why don't they just come out and say it? This model probably doesn't impact the hardcore players and streamers much. But what about the other 90% of the community? My gut says why play a looter-shooter where your loot is temporary?
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If I bother to continue playing, I've already decided that I'm only grinding the armor I need for my builds and I will refuse to replace them seasonally. I'll just eat the DR loss. If a seasonal weapon is worth getting, then I'll get it, but otherwise I'm also choosing to lose out on the Damage boost. I refuse to engage with such a predatory system that disrespects player investment so heavily.