I agree; I think many people have severely overreacted to Dragon Age II. I don't think it was nearly as good as Origins, mind, but it wasn't the soulless product that people claim it was. Dragon Age II tried something new, it didn't really work, but that's the risk of innovation. People get all pissy about developers being stagnant and not trying new things, but they refuse to accept that not all risks pay off; sometimes you try something new and it doesn't work, but you don't just dismiss it outright.
DA II had a lot of ideas that were worth preserving, I think. I too am optimistic about Inquisition, for the most part. The gameplay looks absolutely brilliant; BioWare have always had a thing for world building and episodic story telling inside the framework of a larger story, a story structure you would expect to see as an arc of a TV series in a way, so an open world game seems like a natural evolution.
What does worry me, however, is the direction Inquisition is taking with it's plot. The mono-myth is severly played out in BioWare games, but what's worse is that DA II and Origins already laid out more than one perfectly workable story for the new game to follow up on. Instead of getting a game that can really dig in and focus on the complexities of the Qunari, the sentient Darkspawn, Morrigan's child, or the Mage/Templar conflict, the story is almost certainly going to dedicate tiny chunks of it's story to all of them in favor of focusing on yet another "Save the world" plot.
What frustrates me is that the whole point of the Heroes Journey is to fill in blanks; to give writers a jumping off point when they need help structuring their story. But Dragon Age already has plenty of lingering plot threads, and the writers are still trying to shoe horn the Heroes Journey into a story that already has a central conflict; it's actually making the story MORE complicated and confusing, and that's exactly what it's supposed to PREVENT.
Something similar happened with Mass Effect 3; there were a myriad of central goals the writers could have employed as a framing device that were more relevant to the plot and themes besides The Crucible (The Deus Ex Machina generator), a device that we have no prior knowledge of and whose existence makes absolutely no sense.