This got me thinking but it’s funny that power creep is such a big thing only in a game like Destiny when MMOs have been working around it for decades like take World of Warcraft.
World of Warcraft has had around 10+ expansions I think and numerous patches and DLC, raids, etc but power creep is pretty well balanced. They've had to reign in the numbers and have a stat squish every few seasons but they've done a really good job when it comes to power creeps.
Gear, armour, etc is only good for that content patch. Thats because of how gear and stats scale. Destiny 2 doesn't really have that power scaling. It's not had that since Destiny 1 which is kinda lame. The problem isn't power creeping, it's the whole light level and the way it's designed. If they actually just went back to Destiny 1 then you would actually have a need to farm new content and chase gear. Right now there's no incentive to chase new gear or even grind cause you can simply bring up the level of the weapon you've found early on. That defeats and works against the whole idea of chasing loot. No other game does that and I think it's what leads to burn out. Even a game like Diablo that's so loot heavy. You can get a really near perfect drop at level 20 but it's no good at level 60. You are then gonna want to go out and farm for gear. Destiny removes that because why would you when you can get the best gear right out of the gate.
Take Graviton Lance for example. I got that right at the start. Why would I need to do the exotic quests for most other weapons when it's efficient and does a better job than almost every other weapon. It's a room clearing machine.