I am really curious as to what ToO looks like in a few weeks. It seems this game has never had an event that gated the elite players in this way. Winning several games against what are now pretty damn good PvP teams is difficult, especially in a mode where most casual players haven't seen something similar.
I found my time (4 wins one time, 6 another, no success another time) both intense and very frustrating and it annoys me that I'll probably never see what seem to be the best guns in the game.
I'll give it another few spins, but I'm not sure I'm sold either on the game mode itself nor the implications for loot. I wish both of the end game modes of this DLC weren't 3 players, as well.
But I respect that it's very cool for the diehard PvPers in this game to have something to go to.
I do suspect that Bungie finds a way to lessen the effect of not being amazing at PvP to keep people interested in this mode, but we'll see.