In Morrowind you couldn't fasttravel, atleast not from any location. You could only pay for transport between populated areas. So when you were exploring the world you really had to make do with the health potions and equipment that you had with you. So before heading out you had to calculate how much potions you needed and you had to repair your gear as well. Skills like repair and alchemy served a purpose as they allowed you to create potions and repair equipment 'on the road'. Which was important because you couldnt fasttravel to society and pay for these services.
So imagine you were out there exploring and happen to stumble upon a cave. It wasn't as simply as going in to check it out. You had to consider: do I have enough supplies left to explore this cave AND make it back to society? Should you come out of the cave with no health potions and with all your gear broken than you were in serious trouble.
Because you could only restore health in a bed, and with broken gear and no health potions each encounter was difficult. It could end up with you running away from 5 different wild beasts and having to hide in a cave. Should this cave hold some new (but weak) gear than you would be thankful for it because atleast it wasn't broken. So even weak gear and other loot in caves was useful. Where as now, most stuff found in caves is pointless.
You felt a great amount of pride if you succeeded in surviving 'out there' without health potions and with all your gear broken. It was this sense of adventure that made Morrowind stand out from all the other games. It wasn't the atributes or that you could train athletics. This was cool too but this sense of adventure was what made the game amazing.
Between Oblivion and Skyrim: you can heal by waiting, you can now heal automatically, you can fasttravel back to safety, you no longer had to repair equipment, you can travel back to buy new potions, etc. Small things but all added up Oblivion/Skyrim being lackluster in comparison to Morrowind. Most gameplay elements within Skyrim today are becomming pointless. It won't be long before they remove diseases from the series because you can cheat your way out of it by fastraveling to a city and than returning to the area in which you were 'adventuring'.
Some people...wait... correction: most people might enjoy this streamlined experience. You can easily drop in and out of it and you don't have to worry about anything. No need to plan ahead. I understand that bethesda makes games for everyone but small changes over the years are starting to add up and it will seriously destroy my game enjoyment. I fear it will end up like it did with Bioware and that filth they call a sequel to Dragon Age.
The solution is simple: give us old fans an hardcoe mode.

