Little to no replay value? That's pretty subjective, the number of lvl 30's out there tells a different story.
English
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Mindlessness of certain brands of gamers, false hope for something better at the end of the path, achievement hunters, and completionists are what lead to that result. A small minority, at best, would reach for the highest peaks this game has to offer because they somehow miraculously enjoy the sheer lack of content and story. The long list of reviews, complaints, and the general impression one can gather from the community is that this game is by and large a slap in the face and a kick in the teeth to (would-be) fans of Bungie.