I'd say GodMode Terraforming isn't going in due to the focus on regional multiplayer, where someone could in theory just smooth out water to get at a resource, cut paths through mountains for the resources, and the like. It may also be something where being as the regions are all connected any huge terraforming can and would possibly affect a neighboring city's. I mean it'd kinda suck someone is have a good time terraforming their area to what they like, then your side just gets wrecked from what they did. Anything you planned or possibly even built is destroyed from terrain changes.
It's not to say terraforming won't be in, but it'll be in on the mayor's tools scale and from what it's said is 'civil engineering'. One can hope that could mean Sims acually perform the duties as a job to move the earth, yet I'd hold my breathe on that one.
It's also not to say that eventually once the game is released that a more classic single-player regional play will become available with the classic tools. I'd also hope that it'd be done for free as well.