I was giving this more thought while I flew home earlier this evening - the statements from BioWare indicate that they have "plenty" of room for more stories, set before the events of Mass Effect 3:
In the newly released The Final Hours of Mass Effect 3 app, executive producer Casey Hudson says that the events witnessed in Mass Effect 3 is as far as he wishes to go.
While not yet sure what the franchise will tackle next, “whatever we do would likely happen before or during the events of Mass Effect 3, not after,” he says.
Here's why I think that's wrong:
- The First Contact War? Completely meaningless. We know how things end (badly) a few decades later, so we simply don't care. At all.
- The Rachni wars, or the Krogan Rebellions? The lore tells us how those end, definitively. Again, from a story perspective? None of the choices players would make matter, at all
And so on for any other prequel idea. By hosing down the future, they've hosed down the entire setting. This is why I believe they'll end up retconning it - they'll have no other choice. Now, it looks like the bozo brigade (Hudson) is still convinced that "they did the right thing", so they'll end up retconning things later (maybe much later), at a point when they can look maximally stupid.
Why is this inevitable? With all possible stories in that setting dead, it'll finally occur to someone at EA that they have a serious business (i.e., huge loss of possible future sales) problem on their hands. At that point, the powers that be will treat the ME3 ending the same way that script writers treated Highlander 2 - as an unfortunate incident that they'd like us all to forget (so that we'll buy tickets to the next thing in line). In the meantime, they just get to look stupid.