Yeah, but that's pretty much what you have to do in order to make it work for the controller. The lowest common denominator. Unless there are two different UIs, one for the limited controller options and one for the PC.
Amazingly, it is actually possible to have two different UI's in the year of our lord 2015. Other games, actually existing today can, in fact, let you switch between a controller and mouse + keyboard. It's not a brand new thing no other game has ever done before.
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The other factor is voice acting. Do you really expect the same richness in dialogue options and story if every line has to be voiced? Everything the PCs and NPCs have to say?
In this particular case of the EE, then yes, I do expect the same richness. This is because Larian, knowing how much dialogue is in their game, having the dialogue already written, and knowing what they were willing to spend on voice-acting, presumably did the math and came up with the conclusion that they could indeed afford to add VA. If they did not have the money, they wouldn't have done it in the first place.
Now, whether the VA issue will influence the amount of dialogue in their future games is indeed a thing they should be paying attention to.
