What if completing all 3 nightfalls (1 per character) awarded you with a random 320 item from either the vanguard, crucible or faction?
Completely random item.
TL:DR - completing nightfall on all 3 characters give a random 320 item.
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Or simply revert the changes they made. More specifically, bring back elemental primaries (we're still only using the 2-3 same primaries so it made no difference) and the rep + rep buff. I never ran the NF for loot anyway, I did it because it was fun with elementals and I wanted the exp buff.