Crafted Exotics

[FilthyPeasant]

I have the Dead Messenger from the original Vox mission and just got the catalyst.
What's the point of the crafted one?

[Anti Homeless Rock]

Actual perks, like other guns

[EckyThump]

You can craft it with different traits like any crafted weapon. Different Barrels, Magazines and Stocks. I think the original already had best in slot for most of these but you might want Imposion Rounds for PvP perhaps for the additional Stability.

In addition the crafted version can unlock perks that go in one more perk column that the original never had - Demolitionist is there, Unrelenting, and Thresh.

[Kylito]

As mentioned above, you get to pick the barrels and whatnot it has, which allows you to spec into handling or whatever, but also to add a new perk. Dead Messenger never had a 4th perk column before, so it is effectively a second catalyst. If you already have the old catalyst you just need to do 3 runs to get it all maxed out.