This is what they are selling you. A raid grind for 2 light levels. Do you really think you will be getting a well designed story? Maybe you find value in that but I personally think there isnt enough content to justify the price. But the even more compelling reason to not buy the dlc is this content should have been in the full game to begin with. Why are they releasing low level story content as dlc? That alone makes me not want to but it.
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The Expansion isn't for you to grind or even for you to level up that's just a bonus the expansion is- you guessed it- NEW CONTENT new crucible maps, new gear, new raid, new weapons, more story missions.
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How long do you expect that new content to last? Personally I think they're offering very little for the price tag.. I mean it's one third the cost of the full game! European gamers are even more mad as they're paying $33 for the expansion! That's just crazy man :-)