Smith mentioned on Twitter that:

The new changes to the Nightfall Strikes were not as well-received as the addition of Taken King. The rewards previously consisted of a bunch of random drops. However, what made the Nightfall Strikes truly worth your time was the reputation buff. The removal of this reward is one of the biggest reasons the rewards have become so, in Smith’s words, underwhelming. 

Now all you get for your efforts is a few coins and a pat on the back (if you decide to pat your own back, that is).

Luckily, the Nightfall Strikes won’t be a big waste of time forever.  Smith hasn’t provided any information on how Bungie will update Nightfall, but fear not Destiny fans, for a fix is in your future. 

Destiny s Nightfall falls short on decent rewards - 27