Whether it be through destiny 3 or whatever expansion comes next just straight up resetting everything in the game, but something has to happen.
This is a looter shooter game, with no replayability because all of the things that make a looter shooter replayable... don't exist in destiny, at least not anymore.
The game's been out so long that everyone has everything. There's no reason to play because there's nothing new to get. Crafting was the biggest mistake for this game but the bigger problem is genuinely just due to the game being around for so long and how easy it's been made to earn things.
Legendaries are rares, and exotics are just legendaries at this point. There's nothing worth striving towards. Nothing is difficult to obtain and the only things that are semi difficult to obtain (adepts, raid exotics, etc etc) aren't even better than what we have normally. There's no reason to go for adept weapons because it's not like I'm getting something drastically different compared to what I get out of the regular version or what I get out of a different craftable weapon. And then most of the raid exotics are straight up dog poo.
Loot in a looter shooter needs to actually feel rewarding to get. It needs to feel earned in some capacity. It doesn't feel that way in destiny currently.
And maybe this is a scalding hot take... but good loot should be hard to earn! Exotics should not be some plentiful harvest that I can just spam out without even thinking twice about it. Like it's gotten to the point where my engram inventory is JUST exotic engrams because I have zero use for them.
All that and the removal of any power grind? Why play? The only times you should be playing destiny at this point is:
1. When an expansion drops so you get the expansion story
2. Towards the end of the expansion year so you can get all of the seasonal stories at once and catch up to them.
The in between means nothing. No new exciting loot, no drastically BETTER loot than what is already out there and owned, no power to grind to even get your character stronger, there's nothing.
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I don't think it needs a full reset, just activate the missing parts, like crafting and maybe destinations. But what they really should to is to remove all the things that not really belong in the game, like stupid mechanics (kill an enemy and it drops an icon, find the icon and shoot the icon-stuff), and all this "potion"-systems. They should concentrate on the core of the game, it is a looter shooter, so concentrate on environments, story, loot, and not time-delaying stuff that belongs more in a RPG-game.