I agree with those saying that people are blowing this out of proportion. People also shit on XIII for having a one button system but it's my favourite game in the series, so I don't like to listen to dumb shit like this.
This is the major reason why Destiny doesn't interest me. If a game that has loot has really shitty loot on purpose and withholds good stuff from you then I'm not going to have fun, it's just disappointing to me. I don't care if that's how the game was designed, you're setting up my equip screen for such awesome potential just for a tease.
It sounds to me like Destiny will be carried on by how many other good shooters or RPGs will be available. Sure the game sounds just ok but from pretty much everyone I know who plays it and has been playing it, it's one of those "play because there's nothing else out there" games. I still do want to play it, but maybe I will only get around to it when Destiny 2 is available.