That's the question posed by The Kartel in a new article that points out the many reasons why we'd all really like to see a non-MMO Star Wars: Knights of the Old Republic III.
There are still several issues that need to be wrapped up from the games and I for one, don't really want to see all of them pop up in TOR. Like how did Darth Kreia (who turned out to be the main antagonist in KOTOR II) end up with the Ebon Hawk? What exactly happened to the rest of the crew from the first game? These are things I feel the fans of the series deserve to find out, but TOR needs to be its own game and propel a new and exciting story going forward. It doesn't need to spend time going into all of this stuff. It's a new time period with new challenges. While it's great that they plan on using Revan to give some continuity between the games, TOR shouldn't have to wrap up all of KOTOR II's loose ends. I suppose all we can really do is point our fingers at World of Warcraft for ruining any chance of a third KotOR.
This is why a KOTOR III is needed, separate from TOR. Besides many of the things gamers would have wanted in a KOTOR III would be experiences best tailored to a one-player RPG. Imagine you get these love letters from your favorite sweetheart. The first two are so great and you feel so special that you cannot wait for the third one. Then imagine that your sweetheart decided to post her last letter on the bulletin board in your office for everyone to read and enjoy. While it's not exactly the same, it's a very similar feeling I have when it comes to having TOR instead of a KOTOR III.