I can play Skyrim online with my husband and close friends...but NOT massively...NOOOOOOT massively....please.
What's wrong with there being a bunch of people plus you, your husband, and close friends? You already said you're fine paying a monthly sub, so really the only difference will be that there will be a bunch of other people in the game as well as your friends. I understand that names like Rolf the Uber might take the role-playing aspect out a little, but assuming the game isn't tab-targeting (which seems to be what most people want), there won't be floating names above players' heads and you won't even see them.
Anyway, all of the TES games were arguably underpopulated, so making an MMO is a natural fix to that