Not much has improved so far, but they've "talked" about it. Obviously this fall DLC will set the tone for the future. Shadowkeep was sort of meh and most seasons have been pretty routine. Each season has been the same - grind 50 levels of power and a bunch of bounties towards some sort of set of weapons and armor. It isn't a terrible loop, but it can feel very unrewarding.
The problem is that those of us who have been playing all along have god rolls of everything we could possibly need, so there's little need for me to farm anything new. Sunsetting isn't the worst idea in the world, but they implemented it poorly.
With Destiny, I stick to the same philosophy - play while I have fun, quit when I don't. The past year hasn't been bad, it just gets very routine. With working from home, I can switch over on my lunch hour and basically grind things out as needed. It isn't a "bad" game right now, but it misses that D1 feel for sure.
I can't remember when armor 2.0 came out, but if you aren't familiar with that you should check out a guide. It is pretty simple overall, the thing to remember is that stats scale to 100, but only increments of 10 matter, so having 51 vs 59 intellect is exactly the same. Until you get to 60, there's no point. Most players don't even get deep into things anyway in PVE. In PVP, getting your super a few seconds earlier can be a big deal but in PVE it rarely matters much.