Ok, when I first saw the updates and articles describing the new exotic upgrade process and learned that all of our current legendaries won't be seeing a damage increase, I too freaked out for a minute.
But then I thought about it some more and realized that the ONLY content in the DLC where this will matter will be the new hard mode version of the raid. Why? Because that will be the only content in the entire DLC that includes level 31-32 enemies.
The new missions, strikes, nightfall, and even the new normal mode raid WILL ALL MAX OUT AT THE SAME LEVEL AS THE CURRENT HARD MODE RAID! And, our current weapons and gear work just fine for level 28-30 mobs, don't they? Yes, yes they do.
Later, in order to attempt the new hard mode version of the raid, we simply equip some of the new weapons and gear that we get from the normal mode version of the new raid -- just like we did with VoG!!
Too easy!
In other words, you won't have to start over with very many exotic pieces, and you'll have plenty of time to do so with a few of them before you're even ready to think about the new hard mode version of the raid anyways (Note: hard mode won't be unlocked/available until "sometime in January").
Yes, the exotic upgrade process does seem a bit stupid, and cumbersome, but it's certainly not going to cause anyone that much pain anytime soon; and, it's certainly not required before you can enjoy ALL of the new content next week.
So, my fellow guardians, please take a minute to relax... you don't want to be in too big a hurry to finish this journey. We're also all in this ride together and we're all dealing with the same wild changes... so, nobody will ever really be left behind or be left without good company.
TLW: Our current maxed gear will be 100% effective for all new content except the new hard mode raid. We're all going to be ok, and we'll all continue to have fun pwning the new and old content, I promise!