I will honestly say that Destiny was my first MMO game & regardless of whether it's the right thing do to for the purpose of progression or what not...I still think the're gonna lose thousands (if not millions) players!
I personally know of 9 players who quit Destiny after TDB released the minute they found out that old gear became obsolete & they all said that the grind was for nothing. When HoW came along I contacted them to give the good news about old gear ascending...none of them were interested & moved on to Elder Scrolls Online / The Witcher 3 / COD / Battlefield / GTA V
And with many other promising titles releasing soon (Star Wars Battlefront / Fallout 4 / Doom / The Division...hell, even Tomb Raider & Uncharted) many players are gonna invest much less time in Destiny.
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Eso is an mmo, with every level, expansion, dlc, whatever that gear that in a traditional mmo can take 6 months to drop for you, will be utterly and completely useless. Might want to let them know. In one mmo i grinded a certain item for almost an entire year, by the time it dropped i was able to enjoy it for a month or so before it was useless. Personally i enjoy that style but i can see why people dont like it.