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Yes, but if you bought the original Vanilla Destiny, you now have to buy TTK in order to even be able to play what you invested $70 in the first time around - interesting way to force your customers to keep spending money.
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Invested? This isn't the housing or stock markets... You must have a weird definition of investment..
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They barely took anything away from players who didn't buy TTK at all. Though, they shouldn't take anything away from them. I feel that isn't right, but its hardly an issue. I was ready to buy TTK months before it was out and everyone had months to save $40. If you can't save $40 dollars in a matter of months, then you shouldn't be playing video games.
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Not true without ttk you have access to all previous content that was paid for. You can still play all the missions, strikes, raids and crucible maps. What you don't have access to is the new features such as armor, weapons, and special events.