Returning player - is it worth to come back ?
Exotics are more than fine for everything except high level fractals. Some WvW guilds require it but that is purely player based not game. WvW or sPvP forums would be a good place to look at individual server info.
Just jump in and try it, personal opinions vary so yours is the only one that counts for you.
Raids will also require ascended trinkets and weapons at least. In WvW servers were linked up (merged without merging) which has inflated numbers of players in WvW. Not sure how your server is doing though.
Relentless Inquisition [PAIN] – FA