The Queen says "To the Guardians, offer the riches of our realm as bounty for these traitors."
So, now we're bounty hunters and we have nothing to do with... whatever the main story is. It's not even like we're saving the world(s) from an invading force. In fact, it looks like The Fallen are fighting for their own independence, and we're being hired to push them back into slavery. Remember the first time you visit the Queen, and she has the Fallen under mind control?
Wait, are we the bad guys? Hired muscle, hunting down refugees in search of a home and peace, in exchange for glimmer and guns? How far have we fallen since we first woke up in that junkyard?
Or is it like one of those - Han Solo in Star Wars - kinda things where we're just wandering bounty hunters doing our own thing when all of a sudden we walk into an ancient prophecy, blah blah blah, save the galaxy.
Actually, it would be kind of cool to be a bad guy for a change...
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I've felt bad for the fallen the whole game.