It would give the gunsmith some business, and give us something worthwhile to use our Motes for.
Also would give me a reason to have more than one type of the same gun. I usually just dismantle ones with worse stats to save on space. It would be fun having an Ice Breaker of each element.
Edit: Legendary weapons only....ignore my greedy Ice Breaker comment.
Edit 2: Maybe make it just one reforge session per weapon..once you leave the vendor after reforging, that gun can't be reforged again.
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Would be cool as hell to have a kinda crafting system for guns. Not a full on crafting system but say higher tiered guns by a combination of various guns. Like combining fate bring and last word for a higher tiered weapon with a combination of both guns perks or a better mixture anyway. I dunno the guns well enough to give an example.