I've been a fan of their sandboxy ways since nineteen-ninety-whenever Daggerfall came out, but I couldn't be less interested in an ES MMO. Back around the time Morrowind came out I remember one of the guys (maybe Todd Howard) saying that Elder Scrolls would never go multiplayer and that's just not the kind of experience the games are about.
I guess WoW happened after that. If you have a popular series these days your shareholders likely aren't going to be happy until you try to get some monthly fees out of it.
As much as I'm looking forward to TES V, I won't even consider getting this. I wish them luck, but not too much or it might take their focus away from the singleplayer games.