Personally I was extremely let down when I saw that the faction armor is only reskins of the planetary armor... Come on Bungie. The hundreds of millions of dollars made off of this game... You could have done it. Just like you could have done made dedicated servers... and new abilities.... Theres alot that I love about this game but its like you took three steps forward only to take another two steps back.
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Recycling armour is fine... but I'll admit Bungie was pretty lazy on the armour/weapon designs. Not that variety of these has ever been a strong point in a Bungie game.