Unfortunately, this decision risks making BG3 a very good stand alone instead of joining the ranks of iconic games.
I find this perspective coming up a lot, and it's interesting to me because it makes me wonder how much of BG3's wild popularity relied on what people saw in its potential rather than what the game actually is. (And don't get me wrong, I do think it's a solid game as is, I've just never thought it was the best crpg ever).
I think a lot of the fandom, especially people new to the genre, got kind of "spoiled" with the idea that they could ask Larian to do something and it would get added to the game. Romance Halsin? Added. Hug Shadowheart? Added. Want epilogues? Added. And I think this created an illusion that Larian would and could keep doing this forever, just creating game content based on the demands of the fans, up to and including a dlc and sequels. I personally doubted BG3 would get the BG1 to BG2 sequel treatment because the story lacks the narrative focus of those games: a central protagonist. .