I don't think it necessarily killed Destiny but I think they're giving us too much good loot. I've deleted tons of Tier 4 and 5 stuff cause I just don't need it. I get one or two rolls of a weapon very easily and it feels like there's nothing to chase.
They should have stuck with blue gear, only allowing you to have two legendary armor or weapons. Yeah it sounds ridiculous but what was the point of that stuff existing if we breeze right past it in one or two missions?