I feel that along the course of this game, exotics have given way to the supremacy of the raid legendaries. In an early vidoc, Bungie stated (loosely) "When you see another player with an exotic weapon, you know how that player received it, and what they had to go through". This (besides bounties) didn't happen with exotics. I see a random player sporting the Ghallarhorn, for example, and I have no idea how they got it. Strike drop? Nightfall? Xûr? I don't know. However, when I see a player with the Fatebringer, I know that player managed to beat the Templar on hard mode of the Vault of Glass. They have a story, an accomplishment. This is personally why I would love to hold on to my raid weapons, I went through a lot to get them. They're more precious to me than my exotics, most of which I've had to acquire from Xûr.
Just my perspective on the issue. :)
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The vault of glass weapons still work well for me. Fatebringer, VoC and predoth's revenge are still in regular use even with the higher damage dlc weapons in my arsenal. Higher Dps is great but great perks and elemental damage can offset much of that.
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I agree with that as well, however I'm worried about what will happen to them down the line. I'm not saying to make them as good as the current raid, but bump them so they're always one step behind, like how the Vex Mythoclast is at 323 damage now. As a handcannon fan, I think it'd be cool to have a whole set of powerful, effective handcannons along the life of this game. For example, later this summer I'd love to main the House of Wolves handcannon, (hopefully) the most powerful handcannon on the game at that point. However, I'd like to bring Fatebringer and The Word of Crota along as viable options of only slighter less power in an opportunity where they are useful presented itself.