After playing many hours of Skyrim, I'll admit it is a quality game. Plenty of features to make it fun and interesting. We may be able to complain about certain gameplay mechanics or design decisions, but in reality the game is quite playable and likely represents an appropriate amount of development effort for a flagship title.
I think the biggest issue for many players in my age range (28) is that we remember the feeling and emotion Morrowind evoked, which came at this magical time in our gaming history. I distinctly remember how profoundly immersed I was the first time I discovered I could "play" a game by wandering through some swamps and picking mushroom academical ingredients at my leisure. When I hear the Morrowind main theme I get a kind of pseudo-narcotic high. I remember rushing home and starting up the game, hearing the music, and anticipating the amazing experience I felt awaited me. The same phenomenon applies to FF7.
Through no fault of Bethesda, I have aged some. I have gained quite a bit of experience in playing video games. I'm much more keenly aware of what makes a game good and what doesn't. I can spot a line that isn't anti-aliased properly a mile away. I actively participate in forums which give users a false sense in having some input in game development. I have become my own worst enemy when it comes to allowing myself to enjoy games. I have developed absolutely zero tolerance for any perceived imperfection. The DRM wars that software companies have waged on PC users has strongly reinforced my "us" vs "them" mentality.
So I don't necessarily blame Skyrim for not being Morrowind. If you sat a kid who was new to the series down infront of both I'm quite sure he would choose Skyrim as the better game. Unfortunately I believe many of us desire that nostalgic "Morrowind" experience but we have all grown older and life has taken it's toll. It's sad.
I'm also 28, and I have all the same feelings about Morrowind that you do, but that's exactly why I love Skyrim so much, because I actually have that Morrowind feeling from the game once again. Skyrim feels like the immersion, detail, and sense of adventure of Morrowind, mixed with the improved gameplay of Oblivion, greatly improved on both levels, and added a bunch of other things just cuz, and threw it all in a blender.
Skyrim really is a mashup of all of my favorite RPG's, and all the things that made those various games stand out for me. At 28, I would point to Skyrim as the better game.