The design style was used quite a bit a decade ago where disc storage and hard drive space for installs were much lower than they are today. Having as much text in PS:T and its design presentation made character customization limited. Imagine if we had NWN2 character customization with the various background feats, races, classes, and such in a game that has as much text and detail that PS:T had for each possible combination.
You couldn't fit it on 4 CDs, hell, a DVD would probably be hard pressed.
PS:T was a fine game for its era, but that era is long since gone. I expect better out of today's CRPGs than being limited in character creation and choice.