Imagine if they used euphoria and some other middleware? It would be fantastic, but that's not going to happen. You can see how hard it is to make a game like this by playing Dragon Rising. With all of those resources to draw on you got a watered down arcade shooter with not much variety in anything - weapons, vehicles, landscape or missions.
I hope that Dragon Rising keeps going. I don't knock it for trying and I hope that one day someone will make a sim that makes ARMA2 look like crap. But it hasn't happened yet, and there are no released in the pipeline that have been announced. No other game simulates running around in this huge battlespace better than ARMA, and I love the FPS camera work and HDR blindness and the organic way each game plays out differently.
So BIS will focus on Carrier Command for the time being and perhaps if they continue the ARMA franchise we will see more improvement.