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. :)