The exotic system is perfect as it is.
Be thankful they gave us an option to upgrade our exotics and just whining like ungrateful children.
Who cares if you lose a couple of hours and some material?
Are you really that petty?
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They were never not going to give us the option to buff our current exotics, because there are only five new Exotic Weapons. Three new exotic armor pieces for each class. These numbers don't replace current exotic diversity. They merely add to it.
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My apologies, didn't realize you worked at Bungie. They gave us a way to upgrade, so just be thankful. The system is perfect as it is now. It appeals both to hardcore players and casuals. That's the balance they try and achieve.