Court of Oryx and Light Levels

I must be missing something with the Court of Oryx. I have jumped in with a couple of groups of randoms and I know I'm getting credit, becuase my Court of Oryx quest is filling up. I just have to do 2 mid tier to complete the quest. I have placed the only runes I've had, two basic runes. When I completed those I got some almost decent loot. For all the the other times, I have gotten literally NO loot. Not bad loot, not useless loot, but NO LOOT. Is there some catch or nuance that I'm missing? Do I have to be in the fireteam? Also, lets say I have a level 40: 1. character with every item at 100 light, except for a 200 attack hand cannon 2. character with every item at 200 light, incuding the same hand cannon 3. character with every item at 300 light, except for that old 200 attack hand cannon Do they all do the same amount of damage to a lvl 40 standard, non-shielded enemy? Thanks!