Eh, if they're gonna go down that route, I think I'd rather they just gave us a set first name to go with our set last name. The FO4 system was basically pointless, since the only character who ever actually referred to you by given name was Codsworth, and even he only did it once or twice. (I think; the system just straight-up broke for me, so my main Sole Survivor is just "Ma'am", even though her name's on the list of supported names. I've tried it with other Sole Survivors, though, and even then it's super limited.)
I'm not sure if I'd actually prefer a set first name to the existing 'Shepard/Warden/Hawke/Inquisitor' status-quo, but I know I'm not terribly interested in the idea of a FO4-style system--it'd just be too resource-intensive to do right.
EDIT: Codsworth, not Cosworth.