Well TES has always been high fantasy. I hate to be "that fan" that is against change in the setting of a series he loves an believe me I am one of those people that loves everything Steampunk but the fact is that TES has it's Steampunk fix in there with the Dwemer and it's cool as hell *but* it is fine as it is. Fact is that each game has changed in a slight way anyway. Morrowind had a strong sense of alieness to it, Oblivion really soaked up the colourful, bright high fantasy feel and Skyrim for all intents an purposes feels like a love letter to those of us who have a special place in our blood pumps for nordic culture and does at times feel like it is leaning closer to dark fantasy.
TES is fine as it is and I look forward to where it is going (though I hope they STOP this pattern of taking out features and content to be replaced with smaller, unimpressive features and content. I doubt I'll get my wish though considering how they simplify and cut back with each new release)
Like i mentioned before: want steampunk amd high fantasy? Go play Arcanum. It's worth it and at this point is dirt cheap and can run on pretty much any crappy pc/laptop.