Although a lot of what Bungie has done to Destiny 2 in the past year or so can be seen as an upgrade, they've been accused by many fans of making endgame more and more laborious over time. That was most definitely the case for Shadowkeep, which relied on a "pinnacle" system for endgame upgrades.
The gist: to upgrade from the second soft cap of 950 item level (also known as "light" in the past), you need to best "pinnacle" endgame events, like raids, the Nightfall, or the Iron Banner PVP events. This is very similar to the systems that have been in place since the original Destiny debuted in 2014, but naturally there's a grindy twist. At launch, Shadowkeep required you to get a drop in each equipment slot to keep upgrading, but there was a massive problem with duplicate (dupe) item drops that prevented people from getting to that point no matter how many times they tried.
As a result, Bungie is aiming to fix that on November 7 by making every item reward grant "+2" power for pinnacle rewards instead of "+1." Now you only need four slots to start seeing results, which should pop into existence on Thursday, with the caveat that you need to wait until the hotfix arrives to get those +2 items. That's...kind of important, hence this PSA just in case.
I get that this is pretty granular stuff, but it matters to a lot of hardcore players. For everyone else, the Iron Banner returns on November 9 at 9AM PT, and will run through November 12 at the same time.
This Week at Bungie [Bungie.net]