Iron banner's loot tables are either entirely messed up, or RNG hates everyone I know when it comes to IB. Patch notes said iron banner gear would drop after matches, yet I have not seen a single iron banner item for anyone in any of the matches I've played. The only legendaries that drop are engrams. Ib is now only worth the 3 Orange bounties. After that is a waste of time.
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Not to mention, unless you're god in the crucible you should stay out of ib on your characters under 295. Unless you like being one hit by hawkmoons and scout rifles.