"Balance is not about everyone being equal, but rather that not everybody is doing the exact same thing. If everyone is doing the same exact thing, something is not balanced. Everybody is trying to pursue the same unbalanced thing."
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Good quote, and of course I cannot disagree. The question is: where is the balance in a warlock's available armour compared to the titan armour in the example I gave. We could start with the assumption that Bungie has already balanced the game perfectly. However, that is not the case, there is room for improvement, and this is one example.