I too have the same issue. Have the kill tracker ghost and other collectors items. The Salute emote shows in my collections, but says I don't own it now.
No recent hard drive changes. I had trouble getting it to unlock at first when I first got Destiny 2. I had asked GameStop way back when, and they said they weren't sure how it unlocked and they only had the codes for the "preorder" kill tracker ghost and the codes included in the collector's edition.
I presumed it was glitched. At some point it unlocked after I beat story mode and unlocked the tower the first time. I only recently noticed they issue with it being grayed out in my collections.
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Same exact issue. I had a moderator/mentor or what ever contacted me with the usual hat and dance of trying to blame user error. Telling to to restore my license, ckeaf system cache ect. ect. I had already did all this though. Also, I have seen several people on the forum with a similar or exact same problem. So it's definitely an issue and it seems to be from Bungie side. This needs to be resolved money was exchanged, goods were given, and now those goods have been taken away for whatever reason.