I think the question we should be asking is: Why are they making the TES series into a mmo?
That's a legitimate question. Do they believe they can make a good game? Because the people who, uhh, ya know actually built the series are playing a part in this. So it certainly can't be because the people who actually made TES believe TES can be made into a good mmo because they have no say in it. Does zenimax think they can do a better job than the originals?
Or is it about profits? Are they simply taking a insanely successful Rpg gaming series from some the developers and turning it into a mmo cash cow?
These are serious questions. I would love to play a great MMO, just not one that is based off a completely incompatabile series that I love.
The only reason they can turn it into a mmo is because it has a fantasy setting. It certainly can't be because they think that The elderscrolls gameplay is compatable, because barely any of the original series gameplay will be included in the game. No first person, no real-time combat, no reactive universe, no murdering shop keepers or other nps permanetly ect...
As with any business, they do want to turn a profit, and MMOs can be very highly profitable. Some MMOs from the very beginning of the genre are still around and kicking, and obviously they are still making a profit because they are still running. I think Bethesda found a TES MMO to be a good investment, not only because of the popularity of the series but because of their confidence in building it.
People think Elder Scrolls and see great games, great stories, and awesome gameplay.
People think MMO and think,long term character immersion, grinding for xp, and bad quest stories.
However I believe that Bethesda, being the great RPG gamemakers that they are, realize the flaws in the current MMO world, if in any regard than to the staleness that the series is generating as of late. What I have read is promising so far. Zenimax is creating a world where apparently the locals will point you into the direction of quests but not necessarily give you "go and kill X of these." Will those still be around? Probably, everything needs to at some point. But with the incorporation of TES functions such as the compass, landmarks to explore, and the little red arrow they are hoping to turn it into a game where you still can go out and explore. You can go and find things that you've never seen before while still getting a good amount of experience from it.
I have read that there will be public dungeons. This is an amazing thing, allowing people to meet other people organically is what has created MMOs, and as of late that has been getting lost in all the instancing. Now groups can be made or merged for necessity of downing some boss that you can't solo, or nearly impossible pull.
PvP is also somewhat disappointing in most MMOs. Nowadays you queue for a battleground and farm your little heart out all day. If they decide to include battlegrounds, I have complete faith that it will be in true DAOC style, a public battleground for your level. For example, instead of getting 10v10s in Warsong Gulch, you would get a Warsong Gulch that is much bigger and has roaming groups looking to pick off stragglers to help secure the zone. People could be in the battleground at any time, leveling up and looking to gank someone. But even more promising is the fact that they are going for Open World PvP, for people fighting to secure mines, dungeons, forts and what have you. Seeing opposing realms in your dungeon and calling people to wipe them out and then reclear it is going to be something that will keep the game quite interesting, and that's not even mentioning the Imperial City.
They have put their faith not only in the name of their MMO but in the development team to use their RPG elements, among innovations that have been lost on most MMOs (such as three factions and primarily open world pvp), to break the staleness of the current genre and create a good game.