The new weapons are only keeping ranked players, playing ranked. People who had stopped ranking in previous seasons because there was no incentive.

New players aren't going to pick up casual CC for augmented hellhound, the grind is not worth the effort, and there is no clout in the ownership of weapons which are essentially recolors/variants with particle effects. The feast gear doesn't offer a recolor, and there is clout in wearing those sets.

What will get more people playing ranked? Rewards for playing from top to bottom, exclusive to ranked. Impress people with the rewards for being at the top, on par with ultimate weapons for the effort required to get them.