That's the thing though. The very fact that you would need to take cover indicates that you're going to be doing a lot of chest high wall based combat. There are a lot of things that can build suspense and tension in a game. Trading potshots back and forth from behind endless conveniently-placed chest-high walls until one side falls down isn't one of them.
Whack-a-mole is hardly a nail-biting experience, no matter how you dress it up.
Not, mind you, that I think all cover-based shooting is bad, but it has no place in a game that wants to even approach the idea of being scary or even tense.
Considering the devs have already said that 90% of the time you'll be against necromorphs and the cover based shooting only comes into play when fighting other dudes with guns, I'd say you're making a massive assumption. As for it's place, well let's see, if there are people there aside from the necomorphs who have GUNS and wish to kill you, don't think you think it'd be awfully stupid to just stand? Or would you take cover.
There is no reason at all the game needs to be bent entirely one way when it comes to the play style. I for one favor some genre bending and the occasional fire fight; it'll make a nice contrast to the 'peekaboo fuck you' engagement style of the necromorphs in the past 2 games. And given the personal love that the developers have for the world they're making (as evidenced in countless blogs and community posts since the first game was announced years ago), if they didn't feel it fit I don't think they'd have included it. As a bonus with the already released gameplay videos there's nary an odd waist high wall in sight.
Then again, anyone with in the military (or even with training with a militia) will tell you the real world is chock full of 'waist high walls'. When you've been trained to notice them, trust me, they're EVERYWHERE.