Yes this a thousand times. Its long been known that there are other hair styles and face patterns in the game, already installed on your computer that are unused. Even if I like my sex and race for my character maybe I would like to pick a new hair style when its made available.
I think with the trend of things the team has been doing for the game and us the fan base this last year its highly likely that they would give us at least 1 do over when they officially drop 2.0.
If they need to put in a story line for it you know do a funny story line about seeing a wizard and getting a spell cast on you or go "Over seas" for a "procedure". Make us a random character for different parts of the quest. See start npc poof your a woman, see the second npc poof now your something else. Give us a laugh in the process but end it with us getting to pick out what we end up with and there ya go, story line to explain the changes all done and with comedy.