Bungie is having many Developer Insight articles being posted for Codename: Frontiers. They had their live stream earlier today and showed off, what looks like to be Armor 3.0, another Onslaught, and many more secrets to be found. Reminder though, this is their deep dive plans for the future of the armor. The last major update to the armor was Shadowkeep Armor 2.0. They feel like it needs to change. I am just going to give you their TLDR since the blog is too long.

TLDR:
Armor will be a more active, interesting part of buildcrafting.
Stats will be reworked to be more impactful, less confusing, and less constraining.
Set bonuses will be introduced to give individual armor sets more unique identities and buildcrafting elements.

Their solution to this problem is reworking the stat mechanics (example picture above).

You can still use the old armor because it will be changed as little as possible. Exotic armor is on their roadmap but it will not be part of the initial update that is focusing on Legendary Armor. They are also working on a solution for long term storage problems in the vault. Click the link for more information down below. Are you excited for these changes? Let me know in the comments below.

More Information: https://www.bungie.net/7/en/News/article/next_gen_armor