This is standard MMO practice, really. Gear becoming obsolete is when a lot of people realize whether they like MMOs or not.
As far as I know Bungie is the first company to reset your progress two times in one year and they haven't made any promises about how many times they will reset your progress in Year 2.
I like Playing Destiny a lot but I don't like having to put ton of hours into the game to RNG the extremely rare OP weapons and then be told their worthless a few months later.
I haven't played MMOs before but as far as I have read MMOs do that once every few years not once every few months.