Did the new raid 3 times over the last 3 days and reset it once and got 2 pieces of 120 gear. Working as intended if you don't spam replay badges at it.
I have to disagree. I did it launch day and today and have not gotten any 120 pieces. (And I had the same experience with NGN and HH in the last DLC.) The fact is they want us to use replay badges. And there is nothing wrong with that - it is a for profit business and replay badges are a great revenue tool. But your "working as intended" comment is frivolous.