This was and is one of my biggest fears of this game. I seriously hope it doesn't. I know WoW the mmorpg affected how the RTS based warcraft games were produced. That is to say, they completely stopped after WoW came out.
Except there's one unignorable, major difference. World of Warcraft is set approximately half a decade, I believe, after the events of Warcraft III. All of the story in that is brand spankin' new.
TES:O will be set a millenia before Skyrim.
World of Warcraft didn't end Warcraft just because it existed. It ended Warcraft because it continued Warcraft's role as a continual series. It took the plot of Warcraft over. TES:O won't do this - it will create story within the bounds of past canon. Blizzard clearly didn't want to continue the RTS Warcraft series, because they set WoW after III, meaning that the RTS simply couldn't continue. Zenimax clearly intends for the single-player series to continue because they set TES:O long before any Elder Scrolls game, even though it would be easier to work without the bounds of canon after Skyrim.