I know many people that really needed that extra push to reach 309 or something so they could do the raid. I honestly am happy that my friend who can't do trials braces he's not good enough or hard oryx because he's not high enough got that small push in his light and now is able to do hard kings all thanks to iron banner. You may look at it as unfair but it was really needed. Iron banner comes around once a month and is very fun. Getting a drop over 310 was a making for me and many. I went flawless multiple times and killed oryx 25 times. I may not necessarily need it but it is a good reason to do iron banner . I would hate it if I did iron banner just to reach rank 5 and get a 300 item. I would rage and probably not wanna do it. I reached rank 5 on all 3 characters and rewards were random enough for me to not depend on the drops to make me make high light. You may not understand it but people who spend their days to grind 100% deserve their over 300 drops.