You're limited to one per type, their drop rate is atrocious, and there is no duplicate protection. They ought to be worth it. Some are, but most aren't.
The game feels like it doesn't reward putting time into it. Grinding gets you nothing but bright engrams. Wowee.
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Keep in mind that the low drop rate can gateway newer players out of being able to play non matchmade endgame activities if certain activities are based around those exotics to the point where you require them.
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Yeah, that's one of my issues with these exotics. I've got buddies who just got back into Destiny, and I feel bad that my clan leader is pushing for them to get WotW just so we can raid faster.
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Yeah on one hand i like the rarity of exotics but on the other its kinda punishing for newer players especially if they want to do endgame content.