The problem with this could be something...crazy. What if there are so many side quests like in Skyrim? Your character would have a butt load of scars and buffs/debuffs on him lol. He'd be glowing with so many auras he'd be like a second Sun!
What I really want is that people will actually be distinct from one another. And the player would be able to actually be able to leave his mark on the Destiny-verse. ex: See that ruined base? GrandmasterNinja and his ninjas wrecked that place yesterday, they're planning on rebuilding it to be their new base.
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Keep in mind you can have a ton of side quests but not have all of them meaningful. After all, if they are all meaningful then none of them are! Well... not really but roll with it. You get what I'm getting at anyway. But you get a select few that have these lasting effects, whatever they may be, and... damn.
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you see what I'm saying right? bungie can't determine which one is meaningful to you, only the YOU can determine that.
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The easy solution to that is to have the ridiculous number of side quests, but then you just have a few different options at the end. Like the Black books in Skyrim:Dragonborn.