Game development is a long process, and many ideas and staples can be cut during development for various reasons. This can happen despite the best interests of the game or what the developers really want to be in the game. Dragon Age: The Veilguards developers recently had a Reddit AMA, where they confirmed several cutting features. Notable among them was the removal of a New Game+ feature that was cut Dragon Age: The Veilguard. Unfortunately, the AMA also revealed that there are no plans to implement NG+ in the future.
The developers at BioWare are turning their attention and resources to the next Mass effect. Unlike Dragon Age: The Veilguardis it important that next Mass effect have a new game+. An NG+ is a huge improvement in the quality of life for players when replaying a game and, especially for a game that Mass effect where gameplay and combat are so crucial, it's important to get this right. Mass Effect: Andromeda had a great NG+ system, so an NG+ mode for the series is not uncommon, nor is it impossible for Frostbite. As the next Mass effect is still early in development, there is still hope that this feature could be implemented.
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The importance of including New Game+ in games like Mass Effect
NG+ is an incredibly useful feature and removes much of the tedium of collecting in subsequent playthroughs, especially items like weapons, armor, and aesthetics. Dragon Age: Inquisition also didn't have NG+, but it did have a solution in the form of the Golden Nug, a statue that allowed the player to sync their collectibles like weapon and armor schematics across saves once they'd completed the game at least once. Once this was done, they only needed to resync with Nug at the start of their next playthrough, and all of their old schedules from the previous playthroughs would be available to them.
Mass effect is a completely different franchise than Dragon Age in many areas, but it has much in common with Dragon Age and other role plays regarding the need for NG+. Mass Effect 4 should have a wide variety of weapons and armor to collect over the course of the game, while other valuables such as minerals and ores have been a staple of the series but sometimes tedious to collect, and can be carried over into NG+.
How Mass Effect has used NG+
None of the games in Mass Effect Trilogy had NG+, but it wasn't absolutely necessary for any of them since the number of collectibles was negligible compared to the collectibles that RPGs usually have today. From around 2014 onwards, RPGs tend to give players much more aesthetic and practical customization options, with dozens of weapons and armor available in the game along with various options to customize them. For this reason, games like Dragon Age: Inquisition and The Witcher 3: Wild Hunt benefited from having NG+, as players got to see different content on each playthrough.
Mass Effect: Andromeda included an NG+ mode, which allowed players to carry over their Ryder level when completing their previous playthrough, in addition to powers they had unlocked, non-quest items, research data, and credits. This allowed for a very different gameplay experience on a subsequent playthrough, making the early game missions more challenging thanks to the higher level enemies, but also more dynamic thanks to the variety of powers and abilities that would be unlocked at that point. The same benefit could be felt Mass Effect 4 if a New Game Plus mode exists at release, then hopefully BioWare makes the feature a priority.