As with as Horde or survival game mode once the whole team dies that's it. This was the case in Call of Duty Zombies, GTA Online Survival, Mass Effect 3 Multiplayer etc.
This means...
No wiping due to mistakes
No going to orbit due to lag
It will probably have to be completed in one sitting. Players may be locked out of content because they can't make it past Wave 15 and the final boss (if there is one) is not another 10 waves away.
[b]If[/b] (emphasize the If) matchmaking is implemented seeing as [u]its only a 3 player affair[/u] (another major mistake), who's to say a player will leave because he's getting bored, not getting the gear he wants or impatient with the slightest bit of lag, leaving the two other players balls deep with enemies probably forcing the to be kicked to Orbit, if the above is correct.
It would not be Horde mode if checkpoints are implemented.
A new game mode is great, don't get me wrong. But replacing the 6 man Raids which is probably the reason people have stayed for so long may be detrimental to Destiny.
Also there will more than likely be a Hard Mode Arena. Will revives be allowed? Without the ability to revive may be asking for trouble for the two surviving Guardians especially in Horde Modes, which usually consists of the onslaught of enemies.
Nothing is concrete just yet. But if the above were to happen...
[b]PS - People may call me a fool and say the Raid will come later in the year. Later in the year, is that behind the Comet Expansion pay wall?[/b]
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That's what i thought the arena would be like after they released the name.