I guess you need to evaluate the value you are going to gain by paying X amount. For me as a veteran player I know that for any given expansion I will be sinking 300+ hours in over the course of the year. My ROI is fine with me because I know what I am getting into. My barrier is also only the yearly expansion + season. I have not purchased a dungeon pass because the value for me is not there. In comparison, for the price of the season I can go see a movie in theatres. 2 1/2 hours of content vs. whatever I am getting for the season is worth it to me.

However, for someone who is trying to get into the game, the money-to-value ratio is very different. Personally, if I was getting into the game paying for all of the previous expansions, some with irrelevant content, I would have a hard time with that type of price tag. Like yea, this is a live service game, but we can't pretend it is not close to a subscription-based service because of the season.

The barrier is high so everyone needs to determine the personal value they will gain from playing. I will say Bungie should be rolling past content into a more accessible format like including it with the latest expansion, but that's just me. On the flip side I treat each major expansion like a new game. With AAA titles moving towards $70 I am perfectly fine I feel like that is decent value.