Love that it's a decent loot source but I would find Legendaries a lot more satisfying if it had more emphasis on new and/or returning gear (Last Hope, Old Fashioned etc).
For anyone who didn't know, Rahool did get an injection of some returning Weapons from years past. Last Hope in particular a strong addition to his wares
As it's really rare to get a high stat roll piece from them also, it's perfectly fine for it to just carry the Phantom set that came with Shadowkeep and a host of Weapons
Tangled Shore / Forsaken Gear can stick to the Tangled Shore and Forsaken content to loosen up the Loot Pool and give us more chances towards the newer item inventory.
I do think this could lend a hand to making Rahool / Legendary Engrams a bit more exciting again. I'd be far more excited to see a potential Last Hope on the floor than an old low stat armour piece
An alternative would be like the old Faction Packages where we could pick Weapons or Armour for our drop chance when trading Shards