Exotic Ghost, ships and Sparrows should be earned in game through quest and activities! Also it would be nice if exotic weapons and armour felt exotic. This is Destiny not a CoD space game. We are space wizards with guns!
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All Bungie had to do was swap in the Dawning Engram as the 'XP level up' reward. With the 'well rested' buff helping out for the first three. Players win by being able to collect multiple Dawning Engrams per character, all through the event, by playing the activities they want. Bungie win by people grinding away and playing the game. Seems a really obvious way to have handled it if you ask me.