The fact that bungie has given out The Fate of All Fools proves that content was in fact cut from this game before launch. During the beta the code for Fate of All fools and all its stats and a bounty for unlocking it were all data mined and posted online. It was clearly ready to be in the game at launch but bungie chose not to include it in the game until now. It was clearly cut with plans to be added later on as part of DLC. If it was cut for any other reason (eg balance, quality, etc) they wouldn't have given out in game
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Fate of fools shows that bungie have guns that they can implement as and when they want not that it was cut from anything and in this instant it was given in a gesture of good will they could have given money to charity but they didn't they gave a man a chance to have something that no one else can get at the moment or maybe never I'm happy the guy got it and don't think anyone should dis bungie for having a gun that no one can get unless they want to give it them you to might get it one day if they release it in dlc or as a surprise