The worst is what they plan on, where you have premade companions which have eaten up some of the interesting interactions, but also the option for custom companions. Now you are forced to pick between missing out on either the non combat or missing out on the combat potential offered by the game.
This is what I expected as well, but surprisingly enough I ended up playing PoE 1 and 2 with my character + one additional character that I created (+ 3 companions from the party depending on what I was doing). It actually turned out far better than expected as the second character was a rogue thus freeing me from being forced to use the rogues they offered or to play one myself. I made a couple more just for fun and giggles, but I also finished all companion quests. So except for a few situational dialogs (that you usally miss out if you don't have the right character in the right spot at the right time because you knew about it or were luck) there was nothing I skipped.
But at the end of the day, its really about being just an option. I by far prefer pre-made companions (NOT pre-made player characters) as they make the world feel alive. With a game that has so much replayability I would actually like the option to create additional companions in additional playthroughs. I doubt I would do it during my first.