I'm a little confused regarding exotics. I was under the impression that all exotics would have their base damage raised and be comparable with year 2 exotics but now thats no longer the case?
Could someone please explain what exactly is the situation with exotics?
Year 1 Exotics are damage/defense capped below Taken King weapons and will remain that way forever.
Select Year 1 Exotics, like the Suros Regime and the Light Beyond Nemesis for example, have Year 2 versions with higher attack/defense, and a different perk tree. The Year 2 version also now starts with the signature perk.
If you've obtained the Year 1 version of an exotic, you are entitled to purchase the Year 2 version without having to find it again.
Not every Year 1 exotic has a year 2 version (notably, Ballerhorn) but the guns and armor not with a Year 2 version are not fixed in stone at this time, and some can be re-introduced later.
Year 1 exotics will also act the same way they always have in Crucible, and will have the same damage and defense as Year 2 stuff in Crucible, due to it's damage equalization. They'll also still do the same amount of damage in all the Year 1 content you are playing now.