Since Beyond Light, we've been receiving new playlist specific loot. Currently, the only one with a discernable rotation is Nightfalls with a weekly rotation of one new seasonal weapon and an older one. Do Crucible/Gambit weapons also follow this? I haven't seen any confirmation one this from Bungie but I also haven't found anything that refutes this.
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Endgame stuff rotates gear, such as Iron Banana, Nightfalls, and Trials, but base playlist gear does not rotate to my knowledge.