As the title reads, I, as well as many others, believe that armor ascension is one of the best things to come to Destiny in a long time. It allows a level of customization that wasn't able to be achieved beforehand.
Everyone wearing the same armor set is boring. When the only level of customization in a game is based on what signature thing you wear and colors you choose, there's something wrong, and Bungie, you fixed that problem with armor ascension.
Destiny is an MMO in the purest form. An MMO thrives off of grinding countless hours for gear that suits your needs and your requirements, as well as looking good in the process, if you choose to do so.
Change how you ascend armor as much as you need to. Hell, remove weapon ascension if you need to, but armor ascension, again, is the biggest thing to come in Destiny since reaching level 20 for your first time.
Keep armor ascension, and I can guarantee you the community as a whole will be content.
If you wish for armor ascension to stay, please bump this post.
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From what I've seen it looks like old armor sets are coming back in the very least as new faction armors. Also I feel like if the new perk types we've seen from the test builds stick around, then you might want to move onto newer sets anyways.