It's that slippery slope we were worried about.
It previewed itself with the Halloween packs, but at least if you got a duplicate mask, you could break it down for glue to use on a rare quality mask. Now Bungie have gone full-retard and we're slipping down hill fast. RNG emotes for real money, honestly?!
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Oooooor, they're swapping in newer inventory, like they did with Y1 exotics and Xur. You can directly buy the next rotation of emotes/gun shaders/ships/whatever-the--blam!--else, but you can gamble on the previous cycle's Emotes, as well.
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Legacy engrams don't cost real money to buy, though.
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Same concept though. If there is a particular emote you really want, you bought it already, odds are. This would be for the gambling sorts who want a full collection.