The intention for ESOline isn't to topple WoW.
Not topple, perhaps, but if they didn't want a piece of that pie, they wouldn't be designing what looks to be an MMO of EQ lineage with a TES skin. TES has its own lineage that offers plenty of inspiration to build an enjoyable multiplayer experience that could attract and - more importantly -
hold players that aren't looking for more of the same by a different company.
Let's put out an MMO litmus test. Given the(admittedly limited) info we have on TESO, what are the selling points of the game. What does it have to pull people away from whatever MMO they are already playing? Keep in mind that being TES doesn't count, because if Star Wars isn't big enough to make a by the numbers MMO succeed, TES sure isn't.