I don't mind trying it and I also have no problem with taking it to a new game either extending, prequeling, sequelling or whatever.
Ultimately the Mass Effect universe was great, there isn't instantly a need for a new universe/hook to make every game with, a great story in the same universe is better than a crap story in a new universe where every alien is new and every planet different.
ultimately "new" is just, rehashed slightly differently when it comes to universes to base a game in. A well told story is a well told story, a poor one, is bad.
The biggest problem is Bioware completely forgot how to tell a good story, somewhere between ME1 and ME2 the company deteriorated significantly, somewhere between ME2 and DA2/ME3 the company completely fell apart. ME2 wasn't a patch on ME1, ultimately because it was the same game without really the story, the feel, the time line, the journey/pacing. The story was, start, go each way for a small sub story, where they all basically mean nothing, have no impact on each other, are small, encapsulated and mostly dull, then right at the end all get together for one "real" story, which wasn't as good as it should have been.
ME1 is, a story and you pick people up along the way, ME2 is you pick people up.... that was the story, the end(almost). ME3 was story wise, mostly a joke, weapons, upgrades/RPG feel to the game non existant by that point. ME1 was a great RPG, you felt like the character improved, there was a level of difficulty, the game scaled well and, the locations felt massive, epic, imposing and highly atmospheric, even the planet expedition though irritating everywhere felt huge and open, like you know, SPACE. ME2, RPG, gone, difficulty, gone, story, gone, size/imposing feel/epicness of locations.... utterly destroyed, scaling of enemies, nope, new fun weapons and armour start to finish... nope, stupid preorder bonus armours and weapons that to a degree, break the game and ruin any/all upgrades, yup. DA:O was much the same, epic feel, big world, difficult, story, everything the same, DA2 was just laughably horrendous in all the same ways that ME2 was. So basically I have zero faith Bioware can produce another ME1/DA:O quality game.