I'm not "excited" about Mass Effect: Andromeda, but I'd say I'm curious and keeping an eye on it. It's essentially a reboot of the franchise, starting in a new galaxy and leaving 99% of the previous trilogy behind with new and unique characters, and a fresh story that has most likely (and hopefully) nothing to do with the trilogy (perhaps other than the inevitable "We really just had to get the hell out of our galaxy and find a new place for our species to survive" concept).
I am actually happy that they decided to start from scratch, rather than desperately trying to "explain" what in the great heck actually happened with an actual direct sequel to ME3 in ways that would have forced them to also canonize one of the three (excuse me, four) endings. No writer sane of mind on this planet would have bothered losing his/her time trying to do anything with the torched universe that was left behind after ME3. So, yes, rather just go somewhere else entirely and start all over again, therefor I do applaud BioWare (well, the new team) for taking that decision, as it was also the only logical thing left to do for the franchise (I.E. starting over).
I do have the feeling that Andromeda is going back to the Mass Effect's roots, namely exploration, discovery and main character / companions story-telling. I'll wait and see, but for now I'm not jumping with joy just because another ME game exists, it might still end up being a failure... but I'm genuinely hoping that Andromeda will in fact be a triumphant new beginning.