I honestly don't get why you are still complaining the game is going to be out next year and it will more or less be what we have seen. Larian doesn't care what the old-school fans want because they are an insignificant minority DOS2 success showed them that A game which old-school fans hated but everyone else called it the best RPG ever and yet it sold better than all the Pathfinder, POE, Underrails combined.
I see it similarly.
... Better sales is THE killer argument. Allusions to a continuation of BG1+2 will draw in lots of fans, that would have ignored this game otherwise. More attention means more money. This is the reason why every boardroom meeting will decide to use the Baldurs Gate name.
The people that control wizards of the coast could have totally bombed the current story or simply demanded that Larian uses a different name. Now, imagine 'The Illithid Saga' set in your favorite sword coast city. ... Less attention, less sales, less money for everyone involved. Yes, Wizards would have earned less money. No one wants to earn less money. So, they let them do whatever, as long as money rolls in and lawsuits stay out.
P.S. I would have bought a game named 'The Illithid Saga', despite disliking most things Illithid in D&D, simply because it would have tried to implement 5e and because I trust Larian to make a cool game. (Just not a cool 'Baldurs Gate' -game)