If they wait that long, they'll cut their community in half. This issue needs to have a more permanent fix, sooner rather than later. If they are having problems with last-gen hardware, then there are several other things they can consider. Will a 2nd vault somewhere still work on Last Gen? How about multiple pages in the current vault? Can they give more space to current gen owners, and leave the vault as is for last gen? There are many new questions this news update raise. Many of these questions they could have had an answer to several months ago if they would have just told us what the problem was in the first place... We can't give helpful feedback if we don't understand the problem.
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Another vault somewhere could work. I think they looked at what they had and said, "well, let's fix this vault problem as quick as possible." I think the main problem at bungie right now is that they have how, comet, and destiny 2 in the works atm. Most of their staff is working on anything but base Destiny. Unfortunately for us, a quick fix is all we get...