Interestingly enough, the developers have decided against the plurality of the playerbase on this issue. The devs said that they never wanted to put players in the position where they'd make decisions they'd later regret. With over 40 classes, multi-classing, and all of the items in the world, the team felt that players would not be able to be informed enough to pick a race in the beginning if it would be restricted, class-wise, down the road. Another issue is if the team added new races and classes in the future, they'd be forced to arbitrarily restrict some people from playing them due to information the players didn't have up front.
You can watch the full explanation from the team after the jump!