It never was a high water mark.
Some wannabe raid leaders (before the Destny app published raid data) decided it was going to be their proxy (in Year One) for how much experience you had playing the game.
So they (foolishly) assumed that if you had a high score, you were a good, experienced veteran player....and assumed that you weren't if you didn't.
Which of course had no real basis in reality.
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I get that. Unfortunately, I read comments nearly every day talking about grimoire scores. Apparently, it's just not year one anymore. Thanks for the answer.