I have no idea how many things have gone wrong with this patch, but the lag in the Crucible is worse than ever before.
Iron Banner can be described as lag free, in comparison.
The matchmaking seems to be fundamentally broken, as every lobby I am in either has at least 3 red bars, 6 yellow bars or everyone is yellow bar.
Shots take forever to register, melee charges are getting consumed, yet no damage is being dealt.
Bullets simply disappear (some call them phantom bullets).
I am getting sniped, yet no lense flare shows up (or the last 40 people are apparently the best quickscopers in Destiny).
People do not appear on the Radar, even though they aren't invisible.
Getting killed through walls is also a new favourite pastime of mine.
PvP is currently pretty broken, in terms of connection quality.
Edit:
Thanks for all the replies, up votes and agreement.
It's very reassuring when a lot of people experience similar things.
Something went horribly wrong with this patch, concerning the connection quality and hit detection of melee attacks.
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Even PvE is a disaster right now. Just disbanded Challenge Mode once again because it is lagging to the point of being completely unplayable. My Crucible stats are being absolutely destroyed by this crap. I've gone from 1.4 with randoms and no mic to struggling to get 1.0 even on a fireteam. Speedtest.net said I'm getting 90 Mbps down, 12 up, so I don't want to hear any more bullshit about how I need to get a better Internet plan and try to blame it on me. Something is wrong with THIS GAME.