The original Baldur's Gate 3, called "Baldur's Gate 3: The Black Hound" which got cancelled years ago, would have had absolutely nothing to do with the first two Baldur's Gate games either. On top of that, that game was going to be set far away from Baldur's Gate, in the Dalelands. At least this new Baldur's Gate 3 will be set in the city Baldur's Gate, unlike the original which would have been set in the lands Myth Drannor is located.
it's been a long time since i worked on The Black Hound, but i want to make clear (again) that i never had any intention of that game being called Baldur's Gate III or Baldur's Gate (whatever).
IPLY put that title on it after well over a year and a half of dev had been done.
they did it for contractual issues they had (they were only allowed to publish D&D games with baldur's gate or icewind dale in the title). i, and many others on the team, expressed concern over tacking the name onto a game that was made to be its own thing, not an IE/BG game.
the only connection it had was with IWD (maralie fiddlebender was a companion). it had no connection to BG at all.
in the end it didn't really matter, but i think it's important to note that the team's intention was never to use the BG name.
Which is very different from the team's intention here TO use the BG name.