So far so good. I can say I'm a convert after being royally pissed off by their initial reveal and pricing scheme.
I still think $40 is too much for the standalone expansion, but I appreciate how they rolled out the welcome mat for Year One players who have been there since day one. We did get some very awesome swag that new players won't get. So I feel like they made up for the clusterfuck that was the initial reveal and pricing of content.
The content that is there is overwhelming; TTK story missions aside. New cutscenes actually feel like they serve a purpose, showcase some genuinely good writing, and give these characters a personality (fucking finally).
It's expensive ($30 has always been the standard and I don't see why it should be any different here), but it does breathe life into Destiny. I was already "pot committed" with the Digital Guardian edition, so I'm glad this proved to be a worthy add-on. The premium is a steep price to pay, but I'm going to get a lot out of it, I'd imagine.
Edit: Plus, Bungie was making it rain for me last night. I had a legendary special weapon engram that decrypted into the 4th Horseman, year 2 edition and already have three legendary armor pieces for year two.