There has been no posts anywhere that said that Bungie decided to break the weapon for iron banner. Don't make things up.
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What is the point then of iron banner?
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Iron banner is still level capped, but they are not going to change how this weapon works in pvp to broken in competitive. It will continue to do 43-62 to the head depending on if the exotic perk is proc'd. They will never make it do 86 to the head. That is moronic to expect, and whoever told this to you was either lying, or tricked themselves.