Seems they are trying to erase year one, legendaries will already be trash ( screw them being used in crucible, most are meant for PVE), now the majority of Exotics two, and really the ones getting an upgrade aren't even the best ones, where's Hardlight, Vex, P&T.
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Deej didn't have any of those "unlocked" on the the account he was using. So it's possible they'll have year 2 equivalents. The only ones I think that don't have equivalents based on the video (that he had already unlocked in Year 1 on that account) are Icebreaker, Universal Remote, Super Good Advice, and Gjallarhorn (RIP).