Oh, I agree. Something like Long Live the Queen as a Bioware game would be amazing, but it would be a very short game if it was done with the level of technical and storytelling craft we're accustomed to from the company. As I understand it, for every alternate outcome, you'd have to cut the total duration of the game. So a theoretical 60 hour game budget would result in a 40 hour game with only 2 vastly different outcomes, as the company couldn't really reuse assets from each branch in the other.
That said, this is of course a vast simplification. Something focused on a single location like DA2 would have probably more chances of reusing assets even if the story was going differently than a continent-spanning game like Inquisition. Focus it on even fewer characters and a tighter location, maybe something like the King's Landing or Castle Black sequences in Game of Thrones, and the possibilities for reusing assets while allowing strongly different story outcomes would be even greater, I guess. Though then you'd have people complaining that they can't change the world...
Hah, Long Live the Queen, that was a fun little game. Although I'm not sure how many options it really had. It all seemed to boil down to "get killed by the poisoned chocolate".... 
But yeah, of course there is going to be some level of tradeoff in terms of reuse of assests and so forth. Things like environments can likely be reused, althout their populations would probably vary. Dialogue - both writing and VA - would have to be redone. But I do feel that it's worth it to provide 2, maybe 3 genuinely differentiated options for a significant part of the game. Not just, say, the finale differing, but maybe 30-50% of the game differing in some way. You don't have to have everything in those part of the game being different, but I want my choices and actions to actually have a major and noticable impact on the game, not just on my RPed character and the epilogues, and I want to be able to see the effects of that impact by doing things differently next time I play. And if this comes at the cost of a reduction in game length by, say, 30%, IMO, it's worth it.
edit (had more thoughts):
To give another really good example, and one that has had a massive impact on how I look at video games since, Wing Commander. Back, 20+ years ago, I'd played a buch of video games at my friends houses, as they had various systems from an old tape driven Amstrad to the consoles of the day, but the first games I myself owned were those that came free with my first PC (a 386!!!), and the best of those was WC - I mean, for a 8 or 9 year old kid who loves Star Wars and similar, being able to fly around in a fighter spaceship was pretty much the definition of a perfect game. But it went beyond just having cool gameplay. Although it didn't have quite the heavily cinematic feel of the later games in the series [WC2 was really my introduction to heavily story-driven gaming, and what an introduction], the story was good, and most importantly, it branched.
Unlike many games, failing a mission wasn't game over, provided you survived. If you had, say, an objective to destroy an enemy ship before it got into hyperspace, but didn't manage to stop it, you could return to base and continue with the game. Even if you were blown up, if you were quick enough, you could eject - there were a few bastard enemies that would shoot you after you'd escape, but you usually survived. And when you made it back, you got on with the next mission. Every 3 or so missions, depending on how you'd done, the game would take one of two paths - basically, you driving the enemy back, or they doing it to your forces. Eventally, it lead to one of two finales - either attacking the enemy's stronghold, or a desperate defence of your last base in the sector. I forget the exact numbers, but on a full playthorugh, you'd probably only get to do about 50% of the missions due to the branching (as there was not just a "winning" branch and a "losing" branch, but a series of in-between ones that took you between the two paths and so on - if you knew how to "game" it by winning and losing the right missions to keep you on the in between tracks, you ended up with the game lasting quite a bit longer than winning everything).