The GW2 model wouldn't have worked because they simply didn't make enough content to make it worth it. Plus I don't think people would accept convenience items in this game for already hot issues like inventory space. GW2's micro-transactions are based on that and cosmetics, but are also made desirable through making gold via ultra rare drops.
Overwatch's model might have worked better. The thing I don't like about the Eververse armor sets is that they come with set stats, and I'm not giving up my heavily dependent recovery builds that have medium resilience. Then again, they still haven't made enough desirable content IMO to put stuff people would want. They could have done things like random reroll of stats tokens, but we had static builds... which i was in favor of at first, but now I wish we did have random rolls because of the ease of access to loot and how limited the loot is. The best thing for me to get out of my free bright engrams is a sparrow with insta-summon. As the video pointed out, there isn't enough in game content to justify eververse. Micro-transactions are here to stay, but when you have way more payshop content than in game rewards its a problem... and its a bigger problem when both end game rewards and MT rewards are both underwhelming.
The biggest draw back this game for me right now is complete lack of weapon diversity, and its due to balance in PvP. I finally got my hands on Crimson and Jade Rabbit and they're both pretty trash. Crimson is ok, but it runs out of ammo way too fast and it doesn't do a lot of damage. Pretty much every non power exotic is underwhelming in PvE. I will say the Colony is fucking awesome and a ton of fun to use, especially in PvP. (You can buy it from Xur expac or not right now) After that, Merciless is probably the only other Exotic weapon I'd deem worthy. Better Devils, Nameless Midnight, Uriel's Gift, and The Number are probably the only weapons worth using that feel powerful. The Forward Path is decent if you got it to drop from IB, and some of the trials weapons are ok. One of the new energy scout rifles is decent too, but its not as good as the 450rpm ARs. I was using the new vex autorifle for a while until it just felt underpowered when running a few heroic strikes. I'd really like to use something else to mix it up, but when I try, the either feel off, or weak.
They would have been better off doing procedurally generated weapons like Borderlands of making content was too hard. Of course that would be impossible to balance PvP with, but I think everyone has come to terms that Destiny PvP is more fun when everyone and everything is OP. I remember getting my ass handed to me in D1, when I didn't have any OP stuff, but when I got my hands on Fellwinter's Lie and The Messenger everything changed and it was a blast when I was on the same level as everyone else. With how accessible the game is, it wouldn't be hard for everyone to have some type of god roll weapon.
I still believe every gear tier should be available to everyone in some sort of fashion. For Instance, The Division is having a global event at the end of this month. GE's are the best way to get classified gear sets apparently. Right now I only have 2 mismatch pieces because I mainly only farm the PvE named bosses and West Side Piers. I can't solo my way to wave 10 on Resistance. So I'll be grinding the shit out of the GE to get some gear sets I've been wanting. The Faction Rally could have been used for this rather than the underwhelming rewards they give out now.