Yes, hard mode exotic drop
No, quest line drop
Dear lord it looks beautiful.. But how do you think we'll get it? If you know something about how share some details! Me personally... I'm hoping it's the Raid Hard Mode exotic drop, after the disappointment of Taken King not giving a Hard Mode exotic... ToM just felt like "Here you did the raid and got the things... no RNG required just.. here you go." Which is cool, but I never use it beyond the raid. Vex and Necro felt special, you had to get lucky to have them drop- grinding week after week three times in a row to get lucky! Because lets face it, if they do the same thing like they did with ToM, it's gonna be everywhere. From what I saw in screen shots, it's got three fire modes, enough perks to make it some god roll weapons in one gun... if it's easy to get, it's gonna become the new Thorn in Crucible depending on how the perk rolls on it stack out.
I think if it was a hard mode drop, that would really compel people to play the raid AND it might prevent Bungie from nerfing it for a while