[spoiler][/spoiler]
What if – Possible plot hole to Destiny 2
What if the Traveler wasn’t protecting humanity against "Gary" and the Red Legion, but only acted at the last min to save itself? What if the Traveler doesn’t care about humanity’s survival, only its own at any cost?
At the end of the story line activity for Destiny 2 when “Gary” has become a God of sorts filled with light that could replace the Traveler and control the light. Why did the Traveler wait? Why let the guardians lose the light, until the vanguard and the Traveler’s protectors could have perished without acting? If the Traveler could have restored the light to all Guardians like it did at the end of Destiny 2 why not do it as soon as "Gary" capture the traveler and stopped the light, if you remember from the cut scenes the Traveler itself broke the bonds around it, you as a Guardian only defeated "Gary" in a fight. If the apparatus around the Traveler was connected to Ghual “Gary” it sure wasn’t explain that way anywhere in the story.
To me this leaves two possible answers concerning the Destiny universe, either the Traveler really doesn’t care about humanity and is only concerned about its survival (remember it didn’t even “speak” to the Speaker directly) and only acts when it is in direct danger, or Bungie left a plot hole of sorts within the Story of Destiny 2.
One last thought: Maybe the Traveler is only a weapon that was lost at some point powered by light (kind of referenced somewhat in the cut scenes as only being a weapon) and the burst of light in the after credits scene is only a distress signal to its makers? Maybe the Traveler has decided humanity isn’t worthy to protect the Traveler anymore, restored our light while our replacement travelers to Earth to take our place.
What if the Traveler is just evil? (long ago theory from D1)
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I don't know if I would say the Traveler "waited" to break it's bonds. It may just have taken some time to break free. They kept referencing the light finding it's way out, kinda making it sound like it just took time to find it's way. Your light pulse at the end theory is interesting though.