Though I think that will absolutely be a factor in future releases for EA for the reason you describe, I think the larger factor was that Bioware wasn't able to succeed in pushing out games that sold well enough, and that is not necessarily entirely on the studio.

AAA games in general have been having massive problems with over-management, where you have hundreds of stakeholders for a game. The second there is proven money in a franchise, massive structures of managers start to meddle in everything, demand day and date release promises, and get involved in everything from creative direction to engineering to resourcing. You end up with thousands of people in the credits for games made by a team of 100 artists and programmers.

The same thing has been happening to big budget movies and prestige TV shows, to the point that everything becomes this sort of neoliberal corporate soup that reflects the culture of the company. Game studios become victims of their own success. In the same way enterprise software becomes consultant feature slop soup, media becomes focus grouped appeals-to-no-one ultra high production value shovelware.

Creative studios stop producing art or meaningful experiences and start producing content.