Honestly, from a game mechanics and story presentation perspective, Bethesda is one of the worst AAA studios out there. Almost every RPG in existence and every story in a game is better paced, designed, and thought out than Bethesda's "half" attempts they often do for such things.
However, Bethesda excells in creating worlds, a deep lore, and open-ended gameplay that is superior in the sum of its parts compaired to any other game company out there (even if the smaller aspects of the gameplay are poorly designed, and even if some of their systems are flawed). There's no other game series like it in existence, and they are the few who can do open world games rather well (GTA series for example is a [censored] open world game, but a decent linear game, because 99% of the gamplay just involves linear mission completion in a world that is open. It's fake "open world").
I'm convinced that Bethesda is just a studio of about 100 world designers, with nobody on the team who's seriously experience in game design, and has ever played or worked on a game other than Elder Scrolls

because it's as if their game design happens in a bubble, because there are some terribly amature designs put in place that make me go, "Really? Someone actively put this feature in like this and thought it was good design?" (such as the werewolf totems).