Hey. KotOR MMO is KotOR 3... and 4, 5, 6, 7, 8, and so on. So your getting more than you asked for.
And no, they aren't going with just popular opinion they are going with what they've been wanting to do for a very very long time. There is going to be some seriouse competition between SWG and SWTOR. Just accept it for what it is. Try out SWtOR and if you dont like it then forget it. There is more to life than KOTOR.
Even if SWTOR happens to fail and fall on its face, which it wont, Obsidian is not going to be given consent to make KOTOR 3. Plus SWTOR is pretty much garunteed to not fail... Its been anticipated since a while after KOTOR 2 was released and SWTOR.com has who knows how many people registered on their forums. There are already thousands of posts on that site and its only been out for not even 2 weeks.
There is no denying that this game is going to be popular right off the bat. I bet its only a matter of time before SWTOR announce the release date and start taking pre-orders for the game. Thats practically the key to having a successful online game... making it popular.
Yeah they are going to be dirty rich from making this game. However that does not mean that is why they are making it. BioWare truly wants make a MMO that tells a really good story. This game will not only be the fighting, the quests, and the interaction with other players, but also a deep story for the personal character. Its not just a person fighting with the Jedi Order or the Sith Empire, but a person with a past.
I beleive that BioWare and LA have made a good decision in making SWTOR and they know it too. If you want KOTOR 3 you better get word out of your petition because its going to need to be more popular than this game. Sorry guys (and girls) but this game is clearly going to be a huge success.