bethesda is one of the few to make first person rpgs for a few reasons;
1) other ppls games will be called bethesda clones, just look at dark messiah it was called an oblivion clone and it wasnt even an rpg just had first person sword play.
2) limited to certain things in first person view specially using sword play combat, main reaon why theres no spears in skyrim.
3) as said above it just has less eye-candy when compard to 3rd person combat, just look at demons souls it has some of the best combat animations and theres no way you could pull that off in first person mode.
you havent played mount and blade have you.

excellent fps view with tons of weapons including spears. it has arguably the best melee combat of any game.
i was watching one of those youtube videos talking about difference between console games and PC games and one of the things that was mentioned was that fps controls on consoles are very limited compared to PC controls hence the need to dumb down the AI and have aim assist on consoles. otherwise they wouldnt be able to keep up. thats why a lot of games are third person because its easier to move them around with a controller than first person view for most people. and since PCs are only 40% of the market they are going to cater to the bigger half.
personally i hate it because i cant stand most third person views. its a pain to aim with most of them and the view on some of them swings around all over the place. the only time i use third person is for some racing games and the occasional stroll the the woods in obliivon, or wasteland in fallout 3.
im actually surprised that there arent any more open world rpgs whether they are based on fantasy or Science! they seem to sell well, even two worlds 2 sold alot of copies. of course it was limited to third person only. that is one game that definitely would have been better in first person view simply because some of the combat animations especially with one handed swords looked fruity.