Since the very first Iron Banner in Destiny, Bungie has hailed it as the ultimate Crucible experience — a true test of might. Disabling the Crucible's normal auto-balancing, Iron Banner touts the phrase "power matters," meaning the gear you equip and your Guardian's light level will actually make a difference. Sure, player skill is still a huge factor, but there is supposed to be a level advantage enabled. Whether or not that's true has often been debated by the game's community, though.
Following the most recent Iron Banner, Bungie has posted stats to reinforce the idea that power matters in the special event. As you'll see in the chart below, the trajectory highlights a player's average kill/death ratio when plotted in comparison to their light. You'll notice, around the 303 mark is when you start to see a positive kill/death ratio.
While I've always dabbled in Iron Banner, this was my first real go at the special game mode, and I can attest that I noticed a difference once my light level hit 303 (thanks to the improved rewards). While I wasn't horrible at 298-299 light level, I did notice a difference once I equipped gear getting me to around 300.
Bungie says the next Iron Banner returns in December, so here's your chance to gear up.
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