I don't think the year two stuff is any weaker. They didn't because of major changes in the perks, like how some don't even exist anymore (example: heavy ammo on raid boots and some exotics is gone entirely) what I'm saying tho is that it would basically be the old skins but the weapons and armors be yr2 compliant (as well add ghosts and artifacts)
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base stats are down and some of the strong perks are absent, that's weaker. no ghorn with the wolf rounds, no scout can rival the VOC in base stats and no sniper is a black hammer. in fact the one that's almost like the black hammer is now exotic
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In case you haven't noticed, there is a 'new' black hammer, it's called black spindle. There's also a 'new' vision, it's one of the strike rewards. And this is just anecdotal but I thought way more of my arc wolves leash than VoC and fatebringer combined....