It's funny how people are so quick to draw negative conclusions from things that have absolutely no confirmation. Not only that, but you have to make things up, or just not actually think about things through before posting. Face it, you guys want MEnot4 to fail and no matter what decisions Bioware makes a lot of you guys are going to hate it anyway.
1) They never said that it would take place during Shepard's timeline. A bunch of over anxious fans and media members desperate for a story to write up for clicks on their site are going to post "information" that's nothing more than speculation. The only thing Bioware confirmed is that the Mako is back.
2) They never said we'd only play as an N7 human. Do you not know how marketing works? They are very early in development, and they are just clinging to what is familiar to fans in the early process for the sake of branding. That N7 patch on the armor is merely so we can recognize that its Mass Effect. From tweets I read they said that playing as other races was a huge thing in ME3, and said that it is unconfirmed whether there will be playable races in SP. Again, early development, things change. Inquisition originally had only 1 playable race, but they upped it to 4.
3) People are complaining because not a lot of info has been released on this game, saying the panel was a waste of time. Mass Effect 3 was very rushed and the final product suffered from it more than just the endings. Shouldn't people be glad that Bioware is taking their time? I'd rather them release information when its ready, instead of just clumsily tossing a presentation that isn't ready, just because fans are entitled whiners. If MEnot4 takes 3-4 years to develop, rejoice because the game will be better for it.
People are just too quick to put Bioware on a pike. When Inquisition comes out and its an amazing game I hope people stop with this anti-Bioware nonsense because it feels like no matter what Bioware can't win with you guys. The Mass Effect fanbase could learn a lot from the Kingdom Hearts fanbase. It's such a passionate one that actually celebrates when a new game comes out and wants the series to succeed, even after some low points.