If that's the case, then they never explained it, the Iron Banner was advertised as a game mode where your level and gear would make a difference, yet I got a better score with a level 10 auto rifle than with a Hawkmoon.
The other problem is with faction rep, not only does the event only last 1 week, it only gives rep to the winning team, which means that a lot of times, people will leave the match as soon as the other team takes the lead, which makes it even harder to get rep. I would like to see it changed so that it still gives some rep to the losing team, also, if they could extend it for another week, that would be cool.
In terms of the gear it gives, it's worthless if you already have a legendary set, it looks cool though, so I want it. Though I think it's going to be impossible to reach rank 3 before the event is over.