Here's a better video actually showing you current game play and the world itself.ESO gameplay
I have to admit, I'm a huge fan of Elderscrolls world design and the setting, but god damn I can't stand the character design and armor - it looks highly reminiscent of Rift. I do like that they're going a more action oriented role with the combat, but eh, it's kind of hard to get excited for a game like this when there's already all the single player games out there, on top of all the crazy ass mods (like the retexturing of Morrowind). I'll have to agree with Parn though - the genre itself is evolving, but playing an MMO solo kind of defeats the purpose. Solo gameplay is a great convenience, but it doesn't lend to those great moments of comradery and adventure you have with a true multiplayer persistent world experience. I would love to see the kind of persistent presence in an MMO like you saw in SWG, EVE etc. with the kind of personal investment that comes with having a home/shop/family, whatever. Granted you're heading into the whole Second Life school of thought, but think about it. Imagine an MMO with the kind of storytelling you're used to with Bioware/Bethesda games, with an action combat system and a true social/economic component with player homes, social events, player run stores etc. An *actual* persistent world. Of course, its unrealistic to expect players to be online into perpetuity, but that's what AI is for :)
Anyway, interesting debate, game looks decent - lets see how it turns out, and how quickly it goes F2P.