There was plenty of content in the first two expansions. The Taken King is a year after release and includes new subclasses, new Raid, new strikes, new story missions, new patrol area, new gear and other stuff that hasn't been announced.
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Hundreds of hours worth of playtime from those DLCs. Just because it wasn't a 5 hour single player dudebro story DLC full of cutscenes doesn't mean it doesn't have content. Destiny is a social game. You're argument is the same as "racing games have no content because all you do is race all the time over and over."
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In case you didn't realize, Destiny is an online social cooperative game. If you want to play through each mission one time and be done, go for it. I don't know why someone would buy Destiny to do that, though. By your logic, Halo is only 10 hours to beat the game and play each multiplayer map one time. $60 for 10 hours.
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You're a goddamn pleb. Destiny is a social game designed around grinding for gear. That's the point of the game. That IS content. What the hell is content to you? "That's not content it's just racing." "That's not content it's just shooting." " That's not content it's just platforming." No game has content according to you. GTA has no content it's just driving cars and shooting.