Firstly I'd like to say the Live Team is taking over on the Game. So far from what they said and showed at the stream I can tell that there is a chance this game can be saved. I don't want to play it in its current state but I will keep my eyes and ears open.
Now for the new info...
Ornaments:
Ornaments are so far, as we know, returning on Iron Banner gear and ToN gear. They are unlocked by completing objectives, examples being comoleteing so many crucible matches or going flawless. No confirmation on Raid gear yet.
Iron Banner and Trials:
Iron Banner will now sell select weapons at each Iron Banner event. No confirmation on armor. Some weapons will return as their opposite type with new perks. Example being the Kinetic auto rifle now being an Energy weapon. New weapons are still reskins.
Seasons:
There are 4 seasons planned for each year. They are meant to bring new content, meta's, updates and gear.
Bright Engrams:
These will be getting a big reset (but not entire reset) at the beginning of Season 2. There will be new ships, sparrows, ghost shells and emotes. The shader pool will not be reset, new ones will be added to the current pool. The armor will also be changed.
The Dawning:
The Dawning is making a return this year. There will be exclusive gear like armor, shaders, a ship, emotes were hinted at. There will be Ice Hockey in the tower, along with snowball fights meant ideally for the farm where there will be snow forts. They also hinted at being able to do them in strikes for specific reasons.
Faction Rally:
Faction gear is being tweaked in appearance, New shaders and weapons will be available. You are able to buy armor I think as well.
Clans/Clarion Call:
Clan banner objectives/levels will change each season based on what the main goals are for said season. Example being fighting the Cabal this current season and the reward for hitting max clan level is a new stand for your banner with red legion colors. Clarion call is a clan focused event where you earn double xp while playing whith clan mates. It's a good opportunity to go for bright engrams and it will happen before season 1 ends.
I don't remember what else was brought up aside from the fact they're listening, paying attention to what weapons are being used, etc. The stream also cut out for a few minuets too so there's that. All I can say though is that the Live Team has a chance at saving this game. Let's hope!
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Yay for cosmetic distractions that make no improvement on the flaws.