I tried staying updated on the Destiny lore and story but it's all just so convoluted I gave up. I haven't played since Shadowkeep and don't intend on spending the amount of money they're requiring to play this anymore. Sad it went down that way as it's a fun game.
It is disappointing. It's a really fun game! Which is lucky for the developers, I think, since if they didn't have this actually-fun gameplay I doubt anyone would bother playing it, even if the story was coherent.