Diablo 3 had an auction house in its early days. Loot drops were horrible, and the AH was the only place some people could get the set pieces they wanted. Patch 2.0 made loot drops more relevant and progressively better. The AH was booted. We just need better drops, with better relevancy. The artificial caps to grind out gear exist bc there are so few levels of progression. Destiny needs higher level caps (not just light level), but needs more content to necessitate having the higher levels. That's going to take time, quite a bit of time given how things are already progressing.