If it's a Romulan faction that starts at 21 like the KDF, but you can only access it after playing a KDF character to 50 (or another level) that would be pretty cool.
I wouldn't have thought they'd do that.
It all depends on the next big release; they'll either have completed the KDF faction (having you start at level 1 from a first character perspective (in that you wont need to play through a FED character first), or they'll release the Romulan Faction as per the KDF requirements; you need to reach a certain FED level before unlock.
If the former, then there's a chance the Romulan Faction will be released in a whole lot of glory, complete with levels 1 through 50. I'd like to also say to everyone who ever stated there wouldn't be a 3rd faction. You were WRONG!
This teaser has Romulan Faction written all over it. It would be a seriously stupid move by Cryptic to produce something like this, knowing the gossip and speculation it'll receive, only for them to misguide us. If they think they've got unhappy players / fans now, they'll have a lot worse if it's all fake.
As for it's actual state, I'd be content with it being level 20 - 50 for the moment. At least it would be there. Something for them to later work on. Go Greens!!!