It is entirely not needed, sure some tweaks to the current system could be beneficial but a complete restructuring of the system sucks. As someone who has invested thousands of hours farming legendary and exotic armour, thousands of dungeon completions, over 1000 gms for materials and nearly 10k master lost sectors to chase perfect max stat builds this honestly feels like where many other players and I will step off the D2 train, I've been here since the days of D1, bought every expansion and every bit of content and played for hundreds of days, we've seen the game evolve so much but never has it disrespected the time investment put in by players so much before.
This armour update feels like nothing other than a cheap and dirty attempt at forcing the player to re-grind the same items that they have spent the past 7 years obtaining, to increase player time and subsidise the normal implementation of actual content to keep people engaged and playing. But honestly, I believe this will have the opposite effect, turning away the veteran players and cash cows whom have heavily invested in Destiny 2 and helped keep the game healthy, alive and populated. yes the casual players wont be affected as badly but they aren't the players who keep this game running.
Please, Bungie, reconsider this change and scrap the implementation of of this new armour system. Its not needed and will only severely hurt player retention, count and overall happiness.
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Go play AFK arena