As a relatively new player I’d argue that there has been plenty to do even F2P. In fact it doesn’t really feel like it’s necessary to pay at all which is nice coming into a new game so you can get a feel for it/decide if it’s worth joining late. Although I definitely agree there needs to be high level match making. Hero level is pretty much a breeze as long as you bother to use the right ammo mods and a decent build which isn’t hard to figure out even if you are new. As such, there’s really no reason not to have higher level matchmaking. There could even be a restriction on it like you have to have at least one of the required mods equipped. Shadowkeep does seem thin though. I’ve bought the season pass and forsaken since joining but I have to say I’ll probably skip Shadowkeep tbh. Maybe grab it on sale at some point. Doesn’t seem worth it.