From a lore stand point, there's benefits to each Faction. However, Dead Orbit, from my understanding wants to leave Earth behind and spread themselves out so thinly that they're always going to be around, even if we don't know it.
NM wants to continue to make the City prosperous and return Earth to it's former glory, which I'm on board with. We need to start somewhere, right?
There's an odd mysticism about Future War Cult however that has been pulling me into them more lately.
From a game play standpoint I'm finishing my Dead Orbit rep to get the Exotic cloak, but at heart, I've always been a New Monarchy supporter from Day One, but as I said before, FWC has been having a pull on me in regards to lore. We'll see where things go from a story and lore standpoint.
As for now, NM loyalty.
Edit: And I cannot leave out the Queen. I go through these phases of loyalty with the Queen and change my shader and cloak to that of the Queen's Guard. I don't know why, but there's an odd sense of loyalty to her as well.
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Maybe it's because she helped us, than we helped her and she still rewarded us when we kinda owed her for free and then she sacrificed herself to destroy oryx's fleet of ships and leave only the dreadnaught