They did this to increase the player pool. The number of players for Destiny have been declining so in order to pool the number of players into a larger group they dropped the PS3 and 360. Now the number of players for PS4 and X1 will slightly increase. They did not do it because of hardware space etc. The reason I gave is the true reason they dropped the old systems.
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So much dumb in this post. PSA Bungie does not dictate which consoles to support. That decision is Sony and microsofts. #TheMoreYouKnow