Do we know why it's even called Baldur's Gate 3? Is it purely for name recognition? That I get, but why the "3"? Why not just "Baldur's Gate: Blah Blah Octopus Adventures"?
Larian (and specifically Swen) has stated on numerous occasions that it will have several connections back to the story/plot of the first 2 and builds upon the events that took place therein, and specifically has said (paraphrasing because I don't have the exact quote in front of me at the moment), 'we wouldn't call it Baldur's gate 3 if it didn't connect to the previous games'.
“Any fool can criticize, condemn and complain - and most fools do. But it takes character and self control to be understanding and forgiving.”---Dale Carnegie.