I think the vast majority presumed HoW would have a raid. Based on bad info, previous release history, assumption, whatever, everyone if asked prior to the announcement would have thought this DLC would have a raid. Now if it comes out later and is part of this expansion season awesome. If it is tied to the Comet or for purchase separately not so awesome. Again it's the principle.
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The real thing here is, yes we are not getting an event that's described as a raid, but we are getting an event described as the arena, and we don't know what this consist of, wouldn't it make sense to actually wait and see what this about before deciding you're not happy with the upcoming dlc? Who knows, it might even be better than a raid.
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I'm not saying it's going to suck, personally I find horde modes boring very quickly (CoD Zombies) but I'll await to pass judgement. My point is will the "raid later this year" be included for pass owners or tied to Comet or cost extra? That is not good for a new IP or a nice way to treat your core customer base. This is of course my opinion but it concerns me for how they treat content as in its money. And it concerns me for future releases. Comet and Destiny 2. $60 upfront followed by $60-75 throughout the year and it just gets old. Get new thing x, $5, new playable area, $7.50, etc.