I'll try to keep this as spoiler free as possible for those who haven't done the newest mission.
As of the events of the newest mission, the Factions are gone in-universe. Folks seemingly are ok with this in the City, but it's [i]real[/i] bad news for us. The only reason so many people survived the Red War was because New Monarchy and the Dead Orbit fleet evacuated folks.
They're gone now, so when we inevitably get stepped on by Savathun we're kinda crippled in terms of evacuation. We're extremely weakened right now, which I suppose is exactly what Savathun was aiming for.
Do y'all think we could survive a Red War-level assault in our current state?
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Sounds like a set up for a future season.......