I mean, were we expecting anything else? Bungie may have nerfed the famous Loot Cave™ and several others yesterday that players had discovered would grant them with fast enemy respawns and therefore a higher chance of scraping loot and engrams together, but that doesn't mean there aren't others yet to be discovered.
Now, this one shown off above by PS4Trophies isn't quite technically a "cave" but it may as well be, as it looks to behave fairly similarly to our late Loot Cave (rest in peace). It's got a 6-second enemy respawn rate, just like the original cave. You can find it on Earth, flying to the Cosmodrome in Old Russia and heading towards the Rocketyard.
I spent roughly an hour here myself, racking up mostly greens, a couple of blues and even a purple engram (of course, it was a blue item after the Cryptarch was done with it). So seems about right in line my experiences with the OG Cave. Save for a few scattered greens dropped from enemies that got away, this is what my hour ended up looking like:
PS4Trophies in the video up top has the best strategy in terms of where to stand and how to pick off your enemies, but if you're confused as to how to get to this specific spot, Sterben walks you through exactly how to get there:
But, basically, you'll be standing here:
So that you can block the Hive spawns and thereby make the experience a lot easier, and also not get in the way of the Fallen spawns you're hunting. And you'll want to look here for the best group-killing window:
Give it some time and Bungie will likely patch this one into a 40-second enemy spawn as they did with our other farming spots, but I'll be curious to see just how far players can go by circumventing patch after patch and finding brand new loopholes.
Really, though, there's a bigger concern here about how Destiny's loot and levelling systems work. A whole swath of players wouldn't be congregating at farm sites so diligently if the rewards weren't worth it. My hope is that future updates — new strikes, missions, anything — are a bit more generous in terms of rewards than they have been so that players are more incentivized to play the cooler parts of the game rather than just shoot at advantageous corners for hours.