I mean it should and they didn't set a new standard, they just brought back a old standard of having a developer and publisher actually giving a fuck about making a good, complete game.
This is the perspective that is totally forgotten and missed by most engaging in the discussion. Not to diminish Larian's achievement, but they literally busted out the old playbook. Credit where it's due, but BG3 shouldn't be controversial - it should be the standard because that's what the standard used to be.
That's what the standard used to be, because it used to be much cheaper to satisfy. For indies, if you try to do a quarter of what Larian achieved there in production value, and your game doesn't sell, your studio is dead.
For AAA, you'll have to fight execs/management endlessly trying to shoehorn microtransactions and/or dlc to "justify" the costs.
I'd love it to be the new standard, but this only happened because Larian is basically a huge indie imo. Which unfortunately is an anomaly.