Stores selling levelled equipment is silly as it makes smithing less meaningful. I have to reach level 80 smithing to create ebony gauntlets but once I reach a certain level it will magically appear in merchants inventory. Uh what?
I agree 100% with this. Leveled Vendors is utterly stupid. Dynamic (Random) vendors is an entirely different thing, which I support. But if I want to save up 10,000 Gold and buy an Ebony Sword at level 2, I should be able to do it.
Loot scaling is another thing I'm not too keen on, but still am conflicted about it. My biggest complaint isn't one of gameplay functionality, but in situations where you're procedurally generating loot tables, it's a lot harder to tell a story through context. Finding modern Nordic weapons in Dwemer Ruins will never make sense unless the ruins are being used as a base for Nordic Bandits.
Just because the world is open doesn't mean your character has the strength to go everywhere at any point in the game.
Actually, that's exactly what it means. Play Dark Souls and try to get through to the Wolf guarding the Ring of Artorias at level 8 and tell me that game is "Open". It's just an illusion of open. It's like a Railroad, you can see everwhere, but you can only go where the game wants you to go at a specific time.