I'm surprised and pleased with this news.
I loved Steve in ME3.
He was so well-rounded as a character etc. I just think he was lovely. I don't think the same would have occurred if he was "player-sexual", even if BioWare would have kept his back-story the same.
And I didn't romance him, as I played as FemShep. I know realism isn't an issue with video games, but on the whole, Steve felt more "real" to me because of this. I think the characters will benefit from this, even if I might be disappointed certain characters aren't interested in my Inquisitor, there's always others!
I don't feel I will be missing out on any content.
There's the issue though where Steve could possibly be the only gay LI option in the game. While that's fine for you, being a straight female, it might not be fine for a gay PC. Sure it can feel "real" to not have everyone drool over you, but when you are actually only allowed to romance one person in a sea of billions due to programming, the realism argument is sorta rendered moot.
Now I know straight female Shepards in ME3 had it bad, but across the whole series, I have to say that gay male PCs had it worst, so complaints from that end are somewhat justified. It took three games for gay male players to be "catered to". It's no surprise that people like Mockingword are concerned that Dragon Age Inquisition might be a step backwards from the successful, albeit controversial, DA2 method.
It's why some people are concerned over this announcement. What if there is only one LI for gay PCs?