The only reason anything is time-gated is because people would grind out whole content blocks in a day or two then complain about lack of content.
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With random loot drop? You're talking about up to 1/2000+ possible combinations for one weapon that can last for months and they shouldn't be afraid about those who have no life outside destiny, not everyone is a basement dweller with nothing to do
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You seem to underestimate the no-lifers that play this game.