Even since they game was announced I was incredibly iffy about it. From what I played of the beta I wasn't particularly impressed, since it pretty much played exactly like ES5 but with a hot bar.
What I would want from an Elder Scrolls MMO is the ability to completely ignore the main quest and just freely explore the world. I would want to be like, "Hey, those ruins over there look cool," and then actually be able to progress and have a little adventure. After playing WoW and the FF MMOs for years I'm sick of staring at numbers and min-maxing. If I picked up ESO its because I would want an MMO focused on exploring the world at your own pace and just having fun with the game rather than forcing players into some sort of progression. But this is an MMO, Skinner-Box tactics and gear fixations are mandatory.
Plus it makes use of the faction system and I can't be an Imperial. As a life long ES fan, the latter hurts. As someone who has a strong distaste for the faction system, I'm not okay with the former.