There's really nothing else to say but keep the customizability on it that it had in Destiny 1.
The Exotic Khvostov is such a nice-looking and realistic gun and would be a perfect gun to bring back.
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No, it was pointless in D1 since damage didn't scale when converted to pulse or single fire mode. So it's exotic perk was a gimmick. As an auto rifle it was okay, and really on decent because 900rpm autos were meta for a while. Once those were nerfed, there was no point in running this exotic. Maybe if they added damage scaleing to its different firing modes and let different champion mods (or had all 3 mods build in) work with it. Like overload auto, unstoppable pulse, anti barrier scout.