I 100% agree with OP, there is nothing special about armor or any cosmetics other than 343i saying it's special. Pretty much OP's entire post was why I loved Halo 3, on top of how amazing the gameplay was. I still can't believe that 343i gave everyone Recon for free after they took control of the servers. The VIDMASTERs were supposed to be more than just Gamerscore.
Do you feel like Armor holds no value anymore?