Bring factions back. They can have armor again. Add bounties. Each one has a seasonal, “ritual” weapon.
Players pick a “primary faction” that they earn rank for to acquire the armor, but can “work” for the other factions for the sake of acquiring their ritual weapon. The weapons can all be obtained via Vanguard, Crucible, or Gambit means. It’s up to the player to decide. The appearance of the weapon will be dictated by the activity the player chose to acquire it. The other appearance options then become ornaments acquirable by comparable activity appropriate means if the player chooses to.