The thing about people is that when you have a group of people travelling together and in high pressure situations, relationships are an inevitable thing.
It's disappointing that there isn't a "romance" element in the story because it does kind of try to pretend that people don't care about relationships.
The problem with romance options in games isn't that they are a bad idea but that they have been poorly executed.
Bioware has become better with dealing with them in their more recent games, but there is still the "it's just leading up to a sex scene" problem.
Personally I think what would have been good is to see genuine relationships, including romantic ones, develop between the PC and NPCs without needing an obligatory sex scene. It could be as simple as having the PC and love interest able to flirt, refer to each other romantically, maybe when sleeping they wake up in the same bed or blanket roll. Just don't make a big deal out of the relationship except for when it impacts the drama of the story.
But lacking any kind of relationship seems to undermine the goals of a game like Pillars of Eternity.
Divinity: Original Sin did a great job of having the two PCs capable of forming a romantic relationship that didn't result in sex. They'd refer to each other affectionately and even discuss about how "after this insane adventure we totally have to take a holiday away together."
It's not a binary issue. There are many ways to have "romance" in a game.
On the other hand, if the developers don't feel that they can write romance without it sounding all cheesy and corny - then it probably is for the best to not have it. I know as a writer how tough writing any kind of intimacy is.
Still, it does feel to me like a missed opportunity.