Not in the same way no...that's why I consider it to be pretty much the best open-world RPG still, despite the god awful graphics even playing it today it really retains a certain magic that is hard to find elsewhere.
Another thing though, the story, lore, writing, and especially humor in those games was mind-blowing, it is so far beyond most of what's out there there just isn't any comparison..that's part of what made the Ultima games great.
The sad thing is it's quite easy to put them in the game.
Instead of the cyclops that could ask why people wanted to drive his kind into extinction, make a giant that do that.
Smith the talking horse that would reveal plots of previous ultima games. Well you have Maiev, but why not make it a talking horse??
The Unicorn that was a virgin detector. Just put a white horse skin with a horn and make it detect your virginity. You already had a talking stag in the game somewhere.
The delusional sultan with the super powerful stone harpy. Why not just put a "delusional jarl" in the middle of an abandoned castle with a super powerful metallic statue? It would humble people who think the game is too easy. They may even laugh and post on the forums, challenging people to fight a creature that may be more powerful than Alduin himself.
Buccaneer's Den that was basically a pirate's den that had gambling and the brothel. Can't you make it an island and have a ship instead of a carriage to bring you there? Technically it is just another village with a bunch of npcs, but it is so much fun to explore.
A "crazy" farmer who said he saw a spaceship crash into his field, and a tiger-lion came out of it that said "kill wrathy" before it died. You can then check his field and indeed the spaceship is there. It is actually an easter egg because the company also made a space-themed wing commander series, where the "Kilwrathi" are a race of spaceship flying cat people.
I'm upset a game that is over 10 years old had more imagination than the current games.