Trading won't work. Not in a game like destiny, reading means we will have an in game economy and 1 that's far too complex for the kiddies and 2 imagine what it would do when everyone is running around with top end gear. I'm not saying they couldn't make it so some gear wasn't available like raid gear. But it's the light levels. Think about it. Your buddy has got some great gear for you, you just ranked 20 and all the sudden this armour will give you 25 light levels and with some upgrades 29. No need to do any vanguard or other things.
Don't get me wrong I would love a reading system but they would have to do a lot of work for it to happen and kids aren't that savy to play games with in game economy like trading.
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Uhhh all they would have to do, like all MMOs with trading, is set certain types of high end gear to be "soul locked". By that I mean for instance, take raid gear for example: Lick raid gear so once it hits your inventory, it's locked to your account and unable to be traded. So low end gear can be swapped but certain weapons and gear at the high end of the spectrum are locked. Not having trading is one thing that has made this game fall fast. The grinding required to get mats is tedious when you aren't guaranteed the items will be there to farm. All too often I go to do some farming and assholes start running the opposite direction just to grab the chest and others can't.
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Hey man I believe it's as easy as you say it is. I play mmorpg. And in all that I play there are trading options. But imagine the tons of little kids getting ripped off haha. Destiny has been made for all ages, that's why it's not complex in any way shape or form. Blame the kids ;-)