They're not being punished. Anyone that's collecting is putting arbitrary qualifiers on the gear they're hoarding already, so all they need to do is loosen their qualifiers & delete some stuff.
Also, I've never played an rpg that has unlimited space for items, so I don't get why people think Destiny should be any different.
Edit: you can get year 1 weapons from the legacy playlists.
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No one in their right minds would spend hours playing PoE 28 trying to obtain a chance at Year 1 legendaries. RPG's have more space than what Destiny does, and in fact, there is no reason why there should NOT be more space and anyone that complains against it will continue to place a handicap on anyone that does want it for no reason and no real loss at all.
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I'm not against more vault space; I'm against people complaining for more when they can solve that problem themselves. Unless Bungie breaks the rules of physics & finds a way to give everyone infinite storage space, people can always find more gear to hoard & complain about needing more space.
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People aren't asking for infinite. They are asking for an increase whenever they add more stuff such as this.
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People always ask for more space, but they don't ask for a specific amount. Do they want enough to collect one copy of every piece of exotic gear in the game? Exotic & legendary? All that + every rare piece? All that & every green piece? White? There will always be more things to hoard. People have been making choices in what they collect but asking for more space since the game released, so yes, unless everyone that wants "more" space gets together & decides on a specific amount, they're asking for infinite space.