I really loved the combat from TES but from what's been said it sounds more like an MMO than a TES game. You won't have to aim your sword or your spells but you will have to block and maybe dodge? I love how tactical Skyrim combat was. I tried never to use the menu in combat and just used my numbered favorites. So I had a health potion favorited, as well as whatever weapons I might need and never paused the game. I loved how much it was about the environment, and tactically, smartly approaching fights.
That said, MMORPGs these days are by and large pretty hell-bent on a certain play-style. I wonder if MMO players who aren't TES fans will care about this game or if it'll just be TES fans playing. There are a ton of TES fans so that shouldn't be an issue. Anyway, on-topic I don't think it will play much like single-player TES games but what can you do, they have to appeal to the mass market.
I predict it will be as different from skyrim as skyrim was from oblivion.
It wasn't that different, it was just more polished and had kill-moves and dual-wielding. It felt pretty much the same but better.