In this video you will see the glitch/bug in question. It seems like more than just a cool down because it sometimes happens after re-spawn and is not related to previous sprinting. It happens very often and is the only troublesome user experience in Destiny, in my opinion. Bungie can you please comment on this, Bug or Cool down?
An example from a re-spawn can be seen in this video:
https://youtu.be/1iFJyTiIS6U
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This definitely didn't happen when the game first came out, makes sense it was an update that caused it.