But seriously...
Aye. OP makes excellent points, and, ironically, his MS Paint chart is more informative and better-laid out than Skyrim's UI.
One thing that really bugs: everything can be confirmed with the "E" key, and canceled with the "Tab" key...except with smithing, which breaks this rule and forces you to click on "Yes" when you wish to craft something.
Partly, the interface can be explained by being designed for consoles: you cannot move a cursor quickly and accurate over a screen, hence jumping from list point to list point. You can't drag and drop. The giant font, too, is for those who are sitting ten feet away from the TV.
There's other, basic things, though, that are just baffling. All that wasted real estate, when vital, essential information is not shown. The only way to see an item's weight, value and legality (stolen or not) is to painstakingly highlight each item in turn. There's no way to sort by weight or value - which are very important properties. There's no quick way of seeing what you've got equipped. Leaving this out would be OK if they were pressed for screen space, but clearly they're not. This is stuff that needs to be there are at a glance.
The Tab menu is a classic case of not testing the UI thoroughly. The menu I use most of the time - probably about 60% of the time - is the Items menu. I'd imagine it's the same for most people. The Magic menu would come next if you're a mage - both those menus could've clearly be combined into one, instead of hitting Tab, then selecting the sub-menu. They've got the real estate for it. The next would be the map, and, finally, skills.
It smacks of style over substance, prettiness over performance, attractiveness over ability. They really wanted to show off the 3D models, in their little window, and they constellation perk trees (which, by the way, always starts out on some skill my Thief never uses. Conjuration or something.) The book reading is hilarious - it takes about the same amount of time to flip a page as it does for me to read it - but they wanted to show off 3D books. Pure [censored].
Minimalism is fine. However, if it's pointless if it results in a useless design.