Not surprising. A lot of publishers and devs ended up on Unreal 3 after the exodus from Renderware after EA bought it. Now everyone (including EA) got to spend an almost 10 year generation buying time to create, refine, and build their own next-generation middleware, and weaned themselves off Unreal.
I do not forsee much external engine licensing occuring this time around.
Actually, knowing the pedigree of the studio, I have my doubts that they are working on there own engine. They have been using the Quake 3 engine since the days of Medal of Honor: Allied Assault. It isn't out of the picture to suspect that they license Frostbite 2 since EA is backing the project this time around.
Kinda the savior for next gen development, no? We talk about increasing development and content costs but those can be mitigated by better middleware, multiplatform engines that reduce port times between systems, and better content pipelines. Companies that can create engines that allow for quick ports, can scale easily to varied system requirements, and that can handle diverse gameplay types will be at huge advantages for next gen.