The issue of 1:1 pricing is the main issue and mostly glossed over.
Is $20 for cosmetics overpriced? Yep. You betcha. Should be cheaper. The way they introduced that pricepoint, through an apology, is what is rubbing people up even more than it ususally would.
As for the hardened defenders, and there are a few in this thread, honestly it's getting boring now. There are plenty of us who love the game but aren't blind to what it going on here.
Eating it up just because "I think it's valuable" or "It's my GOTY hurr - durr" adds nothing to the discussion and overall issues at hand. Destiny is my GOTY but i don't need to accept their shitty consumer practices just because i enjoy their game.
Bungie themselves have released expansions at pricepoints and when they release more expoansions it will be compared to what we already got. If they don't seem to match up then yes people will be pissed.
For the millionth time. $40 != £40.