I'm convinced it absolutely does nothing.
If not that, actually reduces our chances at exotics.
Most likely just that it does nothing. Just a way to waste Legendary shards in an attempt to get players to play more to earn the shards back.
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Or to get players to use up their stockpile of shards, then introduce something of value later down the road that u can buy with shards. Or they'll up the drop rate once they see that people aren't sitting on a stockpile of shards. Either way Bungie knows exactly how many shards every account has and will wait until the levels comes down before they do anything. It's Market Manipulation Destiny style.
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I'm also noticing that I'm getting absolutely no masterworks when 3oC is active... Could just be bad luck, but I've a feeling that the 3oC is broken to the point of actually reducing chances at rare items.
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I don't they're broken. Just not working the way people think they're supposed to be working. Bungie wants us to use up our shards cause they're too many of them in circulation.