It's of interest to me, that "The Deep" was a term used in reference to the Babylonian goddess, Tiamat, in the Enuma Elis.
Basically, it's a Babylonian creation myth, and relates the story of the god Marduk's cunning and victory over Tiamat, and his creation of mankind.
Coincidentally, Tiamat was often portrayed as a serpent or dragon, along with her children.
Maybe these references are coincidental; maybe not... After all, the lore does contain many references to "the deep" and "dragons".
Going to do a bit of reading and see what I can find.
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Bungie is always so good at these references.