I only just learned of the deprecation once the new season started. I am very annoyed because I have 2500 hours in the game and now over 9000 legendary shards that I have no use for.
I was hoping I'd still be able to exchange them with Rahool for enhancement cores or prisms so I could at least get some value out of them before Final Shape. The decision for not allowing us to exchange them for other resources is also annoying, especially when I could have done it before the launch of Season of the Wish and got all those resources if I had known about the deprecation. (I know they talked about it in a September TWAB but I was taking a break from the game at that time and only got back into the game during the last month of last season)
I also just checked and there wasn't any mention of removing them from exchange with Rahool. Ya I can exchange them for glimmer but I always have max glimmer unless I craft a gun.
Ugh... I really wanted to be able to exchange my legendary shards for enhancement cores or prisms this season before the Final Shape came and they were gone forever.
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They're pretty much already obsolete and if you're playing it really doesn't matter. You can turn them in for something at rahool untill final shape though.