By the time a remaster or remake would come out, I wager it'll be TWO generations back.
You can agree or disagree, but there's a reason people still routinely boot up this games. The dialogue isn't "meh"; it's still pretty awesome. The characters are awesome. The Paragon/Renegade stuff is limiting, yes, but also fun to explore on repeated playthroughs. The combat in the original game is, sure, clunky and I'd like it to be improved (something a remaster/remake could address).
But these aren't some archaic relics of the past. Mass Effect's interconnected, branching storytelling - even with some flaws - is still something almost no game series has successfully replicated. Having your character and choices carry over from game to game, having possibly you're entire party DIE on you from your decisions - all of this stuff remains riveting. I've played the games countless times and I still come across dialogue I've never seen or heard before or options I didn't know exists.
And for a remaster or remake, there was a LOT on the cutting room floor. PC gamers, for instance, have enabled the ability to recruit any party member in any order in Mass Effect 2, and their conversations and interactions are all there in the data. You want to bring Tali with you to save Garrus? You can. You want to bring Thane with you to get Mordin? That's in there. Enabling that would open up even MORE replayability.