I really hope Sony gave them an awesome massage for doing timed-exclusives for the PS. 'Cause I'm butthurt.

Perhaps I need to reread the update, but I'm confused as to whether there are quests and story missions, or are the story missions just being told as quests now.

In the second answer he says "Without spoiling the details, Crota’s summoning is a multifaceted ritual that has implications for Story missions, Quests, the “Will of Crota” Strike, and the “Crota’s End” Raid." So they are listed as separate activities.

I feel like they are missing the point with the bounty quest things. People wanted more story like in the exotics in the main game, in the cutscenes and things.

I don't think people wanted the story to be done like the exotic bounties.

Like I want the cool bounty story stuff in the cutscenes, in the voice acting.

This is my concern as well. I want a crafted main story, told in the way that multimedia games can leverage. This is what Destiny is sorely lacking. The terminals worked as text in Halo 3 because they had a mostly solid main story arc that they supplemented. I don't mind obscure stuff like that as text- in fact, it makes you feel a bit like you discovered something and that is pretty fun. But right now, the text is the only stuff that tells interesting stories in Destiny, and that is a problem.

Perhaps I need to reread the update, but I'm confused as to whether there are quests and story missions, or are the story missions just being told as quests now.

I don't think people wanted the story to be done like the exotic bounties.

Like I want the cool bounty story stuff in the cutscenes, in the voice acting.

* Everyone is getting an extra 5 bounty slots when The Dark Below comes out, even if you don't buy the expansion.
* Introduction of Quests in The Dark Below.
* They do have a plan to make sure our current exotics still have a place in our inventory.

Not a huge amount of detail, but enough to make me happy.