I really hope Bungie at some point makes it possible to access all the old sets of armor, especially the Regalia armor from Iron Banner. I missed out on many Iron Banner events and I think it sucks every time there is new content it has to replace all the old content. every expansion we're going to see all the old equipment replaced with new stuff, why can't more items just to be ADDED to the game I don't understand what's so difficult about that. it would add so much more variety if all armor and weapons stuck around no matter what, but then Bungie would be forced to give people more vault space which would require them to stop having such bad menus and terrible interface. It just bothers me there is so many sick pieces of equipment that you just simply won't be able to obtain again.
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Faction Armor are based on year 1 vendor armors. New Monarchy got my favorite year 1 Titan set, and I got the helm and chest.