I think that there may be a few different buffs that Bungie could try to make The Dragon a more fearsome exotic rocket launcher. The first and simplest buff would be to make the triple tube perk natural to the weapon, and replace it with the grenades and horseshoes perk. This would give the Dragon a little help with it's slow speed and lack of tracking while keeping it different from it's exotic brothers.
The next possible buff is a little harder to apply, but could make the Dragon a true rival to Truth / Gjallerhorn. Instead of having a three rocket magazine, the new Dragon would have one shot before reloading, while slightly increasing reload speed. The rocket itself would still travel slowly , not track, but on detonation create cluster bombs that would spread out from the center and turn into solar flares. This change would allow Dragons Breath to become something special by making it the suppression weapon for bosses and swarms, with the potential to do as well as Gjallerhorn, while keeping both viable in their own niches.
That is a good idea, but with the new nerf to Gjallerhorn, it seems very unlikely they would integrate that. I still stand strong to What I said before in buffing Dragon's Breath to where it leaves a trail of solar flares, making Dragon's Breath a extremely good suppression weapon, while also not making it similar to it's cousins Truth and Gjallerhorn. Thanks for the thought Man!