Today's announcement is being exaggerated.

The Mass Effect franchise is dead. There will not be another sequel or any AAA ME game. I'll buy you the super deluxe extra large venti edition if I am wrong. 

Trust me on this one. 

I wonder if we'd be on Mars by then, given Elon Musk plans.

Base game only. DLC not included 

ME1 remake in frostbite would honestly need a better inventory system.

For me there is no point in even making MEA2. Bioware needed to tie some of he loose ends with a nice dlc or two. They needed to acknowledge those of us who actually liked the game and wanted more. They chose not to do that for whatever reason.... so that's it for me. Honestly, I feel totally played.

I know but I bought a video game and not a comic or novel. I am happy if that option works for some, but not for me. 

I feel as if it hasn't been exaggerated. There are a lot of reasons to suspect that ME is on it's way to being finished. Mass Effect 3 had an ending debacle that was a terrible PR disaster, and after 5 years they released a game that had both an animation PR disaster followed by an uproar by a minority community, leading to a whole department being closed down and folded into another part of EA, and is then the first Bioware game in a decade to not receive any DLC despite massive set ups for DLC in the game. ME is dead, they'll release the novel and comics because they're written as they know it'll generate a bit more revenue, and the MP will continue until the content they've already completed is added to the game, and then that'll be it.

Anthem will replace Mass Effect.

Well, you say that, but Andromeda was a bit like an offline MMO in many ways. I would've quite happily seen it receive yearly expansions to gradually open up Andromeda.

Seems more or less a cop out that anything else. 

That's just because Bioware doesn't really seem to know how to flesh out open world games.

Creative positions within bioware can want to continue mass effect all they want, but ultimately that doesn't matter. It's the suits at EA that greenlights games, not those people you quoted tweets off.