Found the fix. Get on Destiny Item Manager and put something other than the Mida Multi-Tool in your primary slot. The new ornament is messing up the character loading process (I'm guessing some integral data for the weapon ornament is unfinished). I was able to get into the game no problem, I was even able to play with the new ornament with no issue. I tested by re-equipping it, closing and re-launching the game, and the issue started again. So until this is fixed, just make sure you don't log out while having the Mida equipped with the new ornament on it. And if you do, the fix is simple, just throw on something else in DIM.