Lower Than Average FPS?

[BDubbs4Bama]

I seem to be getting far lower than expected fps in destiny. Even just standing in the tower I sit between 70-80 fps while doing nothing. This is at 1440p with a gtx 1080 and r7 1700. Any idea why I'm not getting the ~110 most people online with similar setups seem to be getting? My system is running benchmarks and other games exactly as expected, it seems to be just destiny that suffers.

[PlayStation 2]

I remember Destiny 2 not supporting SMT or whatever it's called in the beta. Could that be the reason?