There's already been an exotic weapon and exotic armor upgrade item datamined, which would lead me to believe that exotics will never be obsolete, but merely require you to upgrade it to raise the attack.
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i guess but exotic you dont need it anymore if u have all raid gear
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You're mistaken. As a titan I'd be an idiot if I used a raid chest instead of The Armamentarium. Exotics aren't about pure stats, they're about the special bonuses they give. Why would a Gunslinger hunter use a raid helmet over a helmet that gives an extra Golden Gun shot? How many warlocks would turn down one of the amazing exotic pieces they have in favor of straight raid legendaries?