As a follow up on my original post, I have tried the multiplayer mode of LP3, and given the scenario (NEVEC soldiers versus Snow Pirates) and the availability of Vital Suits, and in turn the lack of Utility Rigs, I can confirm that those elements do would fit better for a sequel rather than a prequel.

However, given the simplification of the grappling hook mechanics, as well as the low overall availability of VS in-game, even if simply talking about multiplayer mode, I do can also see how it also can't be classified as a follow up of LP2.

Either way, what I can certainly confirm is that not even the multiplayer mode qualifies for the title of Lost Planet 3, at least not any better than Lost Planet 0/Origins or whatever else which can give people interested on the game a better idea of where to look for a reference (LP:EC rather than LP2).