As far as the gameplay goes it looks fine. I worry that some of the scanning and gathering stuff might get tedious, but you need something to do while exploring other than just gallivanting around.
The game is reminding me a lot of dragon age inquisition. It's bringing a lot of things from it's predecessors back into the fold with a fresh coat of paint while adding some things as well.
I really liked ME1, enjoyed ME2, and thought ME3 felt a little weird, but none of that had to do with how the games played. The strength of Mass Effect in my mind has always been the world. What I really enjoyed about 1 were small moments, like talking to the AI in the citadel, getting some new info and then checking the codex in excited curiosity. In ME1 the main narrative arc felt grounded and things felt big and unmovable and hard, which led to it feeling like a real and important world. The characters were a big part of that too, and also a big part of how you learned about the world. It was doubly fun to go check with everyone on the Normandy to not just get their take but also learn something about the universe.
In ME2 the narrative arc was strange and felt almost like some weird side story. The characters really shined through though, and the frenetic, visceral quality of the back third of that game was just a lot of fun.
ME3 as the ostensible conclusion to everything, had you solving a lot of problems, too many problems and too easily, in my mind. The various problems that gave the world shape in the previous games were solved so easily that it made everything feel trivial. Everyone around Shepard felt easily manipulated and stupid. The idea that the Quarians and the Geth just needed some guy to say a few words to make everything okay made that entire arc that was built across multiple games seem silly. Coupled with the out of left field ending and I still think of ME3 as a weird fan fiction fever dream.
So following up on that series seems pretty tough. They have to build a whole new universe that feels fresh and different but just as big and interesting. Which is doubly tough since people still remember everything about the previous mass effect trilogy so learning new stuff about a new universe might feel hollow and like a "been there done that" situation.
The dialogue wheel at least is an encouraging sign that they are planning to make a Mass Effect game. So now for me it's just up to the the world building and I doubt that will show in any of the trailers.