I hate that when I go into a dungeon I know exactly what kind of equipment I'm going to get, I hate that when I do daedric quests that the weapons or artifacts do virtually crap at high levels, and I hate that enemies scale with you as you level.
Less incentive to explore when you feel you wont find anything epic. You might as well smith your epic weapon or armor but why even bother when an ancient dragon can still one shot you.