I was shocked as well when I read the guide after completing the game and discovered that they considered those to be 16 different endings.
The EMS level, the encounter with Anderson and the Illusive Man and the 3 coloured choices at the end were the only things that mattered in the original ending. And they made 16 not-so-different outcomes from that.
Even with EC, I only consider there to be 10 endings tops.
-Refuse
-Vaporize EMS Destroy
-Low EMS Destroy
-High EMS Destroy
-Breath EMS Destroy
-Low EMS Renegade Control
-Low EMS Paragon Control
-High EMS Renegade Control
-High EMS Paragon Control
-Synthesis
( I don't consider micro differences to matter except for a tailoring of experience in itself)
And this is being VERY charitable. Otherwise, I consider it more 3-5 (depending on if I include things like Refuse, Breath, Vaporize).
I don't consider 'world states' to be the same as 'endings', and it may be one of those few major things I seem to outright disagree with Bioware on. It's kinda annoying TBH. I'm cool with it being just a few endings, but just make them distinct and don't tell me there's dozens or whatever beforehand.
So far, I consider DA:O's endings to be good, and DAII's to be lacking (but kinda interesting when it comes to characters!). I have hopes, but them saying '40 endings' already sets off alarms to me. One of the few things so far that has with DA:I.
EDIT: I have now seen Mark's response regarding this and I think I'm satisfied so far. A few major ending positions, a bunch of plotline positions, and lot of little details. Totally cool with that in itself
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Heck, I'm even cool with only one major ending position but lots of variations within that, personally. What I don't like, is the feeling of being mislead for no good reason.