They said legendaries cannot be upgraded though, you can be lv 40 with anything, but you might not want lv 34 defense/attack numbers. Does that mean exotics can't be upgraded as well? I am not sure. I think it could be be a xur upgrade type thing again or possibly no upgrades at all.
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Exotics will be upgradable, that's logic mate, but Legendary will not be upgradable.
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They should of allowed ascension but just made it ridiculously hard to do. Simple
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Disagree. In MMO's, it is common practice to make gear useless as time progresses. What is the point of releasing new content if your players aren't using any of the weapons? I know for HoW the PoE gear was mostly a letdown but ascending was done to placate everyone who loved the coveted Fatebringer. Exotics are coming with us into year two so it's not like they're making everything useless, however, Cozmo did say to hold not to start blowing up the vault just yet. Probably going to be seeing transmogrification or something like that.
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I've heard that our old ledgendaries may be used to power up new gear or somthing?
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Yeah that's the rumor, and I think it'll be something like this; you can take old gear and transfer the stats to a newer piece to power it up or transfer the look of an item to another piece like Transmogrification from Diablo 3.