What he means is all the Gear from year 1 minus some exotics is useless, All the really good and cool looking Vog gear, Crota's end gear and POE gear is all useless and cannot be upgraded. At first site the update appears that the POE is just being re-skinned with taken and more then likely increased light. And the bad part is that players asked for VOG and Crotas end be brought into year 2 but no one ever really asked for POE to be brought forward because POE was kinda boring after playing it the first few times. Obviously we are not sure exactly what we are getting yet so we will have to wait to see if there will actually be "NEW" content.