Most will agree, Etheric Light is now useless and I was surprised when I visited Variks on L-Day that he still is rolling Etheric Light into his goodie bags.
Here's my thought:
Etheric Light = Legendary Marks.
Be it 3, or 5, or even 10 Marks per dismantle, I believe implementation of this benefit would put players back in the Reef and back in the Prison of Elders. I was pleased to see that 5 motes of light redeem for 100 rep at my faction of choice. This could also be a solution.
Thinking forward with this, all existing Etheric Light would have to be washed out of the system to make it balanced. I've heard outrageous claims from people with towering stacks of the damn things laying in wait.
What does the populous think?
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I seem to have the opposite problem. Variks has not dropped any etheric light for me in the Prison of Elders and I have not found it in any of the things I have done to work my way all the way to level 40 with 290 light. I don't play Crucible type encounters. I despise them. There is no way for me to upgrade Her Mercy hand cannon or anything else that requires it without doing those activities, which makes having one useless. It is one of those things that has not made it into the storyline for those who enjoy that type of play.