If I was a money grubbing suit, I don't think I would close Bioware; there's still value left in the name and the properties.
Dragon Age Inquisition sold well. Mass Effect 3 sold well. Even Mass Effect Andromeda appears to have sold alright, likely on the back of initial good will towards the ME franchise, which is undoubtedly damaged now.
But I think what Bioware needs to do now is something extremely safe. It's probably not what people on here want, but I think it's what a lot of Bioware fans want - something they know, done at good quality. If I were a money grubbing suit, I would just order Bioware to make the best standard RPG Dragon Age 4 they could make, followed up by the best Mass Effect 4 they could make; no open worlds, no reinventing the wheel, just take the standard pillars for each franchise and dump a bunch of money into making them look, sound and play the best they can in the Frostbite engine. Safe in design and really pretty. Go for headlines like "Bioware is stepping into the future by looking to its past" or "Bioware is going back to its roots".
There's no such thing as an easy to make game (especially an RPG), but I feel like Bioware should get a couple workmanlike projects under their belt to save their skin.