I would love it if exotics had at least a chance to drop above your light level after you've passed 950. They wouldn't have to be +2 like the buffed pinnacle rewards but anything would be great. It makes that yellow drop much more valuable and exciting especially for anyone who can't usually get other pinnacle drops for any reason.
It could even just be on exotic weapons since they don't have any random stats to farm for like the armor does.
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It could work, but then exotic drop rate would overall be very low, which is bad. Exotic drop rates are already pretty bad as it is, but if they dropped it even lower then we could be seeing some very big problems.