Although you still have new activities to go for with a refreshed rewards slate, a lot of what you actually do is new. Like Faction Rally and Trials of the Nine, the Iron Banner is a timed event in Destiny 2.
The new map, Distant Shore, was announced on Bungie's official Twitter yesterday where the developer also revealed it would be coming to all Destiny 2 playlists following the Iron Banner event's completion. Standard Iron Banner ranks and bounties are also out and have been replaced by Engrams. To gain access to the Iron Banner event in the first place though, you'll have to have completed the main Destiny 2 campaign, have spoken to Lord Saladin in the Tower, and embark on the Iron Banner quest.
Destiny 2 Iron Banner - How do I play?
The Iron Banner has a multitude of different armour sets, accessories and weapons up for grabs, many of which are unique to each class.
Loot in the Iron Banner is gained through the use of the tokens, which can be gained by successfully completing and winning matches. As the mode is Control, you'll need to work with your teammates to co-ordinate your attacks on certain points.
Bungie is also including Daily and Seasonal Milestones for players to complete, along with new sets of armor and weapons.
The Iron Lords are hosting this next event, a gameplay addon that "Destiny 1" veterans should be familiar with. Other than that, it's the usual business (plus the Iron Banner).
Destiny 2's Iron Banner is a Crucible Event that occurs at regular intervals, focusing on specific modes that reward players with unique spoils depending on how they perform. The event ends on October 17 at 5 AM ET. This means that the Destiny 2 Iron Banner event won't be a constant thing in the game, unlike the Nightfall Strikes, the Raid, and other event. As we mentioned previously, it'll take you right around 20 Iron Banner Tokens in order to earn a single Iron Banner Engram from Lord Saladin.