If this is the case then it will really suck for people who have and like to play different characters.
Why?
I have and LOVE to play different characters.
It looks like there will be avenues for new loot every week for three characters, especially when you factor in Armsday and Banshee's Weapon Rental.
I think you can have the same week I described for three different, individualized characters.
As a matter of fact, I think it will make having alternates better. I always wanted to have my alts focus on weapon types to go with their powers. For me, a Hunder should focus on hand cannons and sniper, a Warlock pulse (because Bad Juju was made for her) and fusion, Titan auto and shotgun.
Maybe I can actually do this now. I won't have to keep the three only best guns in the game in a vault and transfer them to every character so they can perform at their peak. With infusion, I can make a Pulse Rifle that stands up to the best in the game so I can keep my own little Guardian's fiction alive when I play. Because the way it is now, the fiction is demolished. My Hunter and Warlock are borrowing the Fatebringer my Titan won? Um, ok.
I'd much rather each character win their own loot from their own experience. In the game now, you character has no fictional importance. People swap them out all the time in activities to get loot, it doesn't matter which character is doing what because witha trip to orbit, they're all doing it.
You say you like playing other characters, wouldn't you rather their activities actually meant something?
This is a dream scenario to me, not a hindrance. YMMV.