It's a manual disable that Bungie enacted while they presumably fix some exploits or gamebreaking bugs. Guardian ranks have nothing to do with them being locked, just so you know.

It’s been a bummer without loadouts, but I decided to take the opportunity to make a new build (Banner of War + Stronghold) since I don’t have easy access to my other ones right now. There are definitely worse ways to enjoy the first week of the season!

Loadouts not pulling from vault has made them no big deal for me. I find it way easier to just choose what I want manually. No custom name makes remembering the mods on each loadout horrible.

I'd probably find them more useful if you could choose icos and names for the loadouts IN Destiny rather than only via the companion app. And custom names at that.

Sucks that they're down for people that use them a lot though. It's clearly annoying players.

It’ll be fixed tmr but the fix is temporary so it won’t be able to pull from vault

It's worse. At least with the API down you can go to the vault, swap characters, etc. But loadouts are just gone now. You can use DIM loadouts, but I don't have my normal ones saved on there too, and I can't remember everything I use exactly. Hoping this gets fixed soon!