Yeah. I hope they change their minds but as of now, we (owners of Destiny and the expansions) have two options:
Buy The Taken King for US$40, and get VIP Rewards (reward our loyalty with emblem, shader, sparrow), or
Buy The Take King Collector's Edition for US$80, getting the Destiny+TDB+HoW (lol) along with same DLC and VIP rewards as the above but with additional three shaders, three exotic class items with XP buff, three class specific emotes. If you go physical instead of digital, you also get a Steelbook Case, Art Book and Replica of a Strange Coin.
So if we just buy the expansion we miss out on the shaders, exotic class items and emotes. As launch players, the only way we can get those rewards is by actually buying Destiny and the first two expansions again, along with the rest of the stuff.
At least with the physical you get some cool stuff. But for players who already have the expansions, TTK Collector's Digital is basically a US$40 cosmetic pack bundled to a US$40 DLC.