As of now, Etheric Light is the most useless drop in the game. It has no purpose and does nothing for you; you can't even turn it in to the Speaker for Glimmer or Motes. But, what if it had a new purpose? I was thinking a while back about how nice some of the Rare armor sets in the game look, and how much it sucks that I can't wear them without handicapping myself. And then I thought about Etheric Light; purposeless and useless Etheric Light. But then it hit me; what if that oh so useless Material could be used to upgrade a Rare armor piece/weapon into a Legendary weapon? It would give Etheric Light a purpose and double if not triple Armor Customization. And just for balancing reasons, Etheric Light would only change gear from Rare to Legendary; and not affect Dmg/Dfns values. Upon upgrading the gear to Legendary, its Dmg/Dfns value would stay the same: so that 287 Rare helmet stays 287 upon upgrade, but now you can actually Infuse it to a higher value.
Come on, you ALL know you want to wear a Legendary Seraph I armor set.
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So we have raid gear and faction gear, which for hunters is all barely even reskinned versions of the same item, and the same for Titans except maybe that some of the ugly ass arms have a pyramid instead of square for the shoulder part and legs have a big armor plate over left leg while another factions has the big plate over the left leg... Seriously though the options to look different in legendary gear are pretty dismal in year 2. And to go from this current state to all the options from rare gear would truly be amazing...