Another incarnation of Destiny will exist, this time having all the content every other incarnation has had and more.
Releasing on September 20 (the same day the newest expansion Rise of Iron drops), Destiny: The Collection will contain the base game, The Dark Below, House of Wolves, The Taken King, and Rise of Iron. Every patch and little bit of DLC will be included in the package as well.
It's worth noting that people who play Destiny on Xbox 360 and PlayStation 3 won't have access to Rise of Iron, so this would be a good jumping on point for anyone who wants to keep up with the content, or jump into it for the first time.
(Source: PlayStation Youtube)