They went downhill since Morrowind... it was their last game that managed to capture players on its own merits, with zero mods.
People forget that Bethesda used to be a sports and arcade game developer back in the day and that Elder Scrolls was very much uncharacteristic for them. They tried and made some interesting things for a while but once they hit mainstream they never went back to the interesting stuff. It also means I don't think we'll see an ES6 game worth talking about.
I actually started with Skyrim:SE, had a super silent heavy armor mage and loved it, then I made something and destroyed my save file;
[overexaggeration ahead]:
A week later I was riding on a unicorn as Waluigi through a HelloKitty cave, throwing spells of NSWF towards everything. Fun times.
Morrowind was excellent, but I don't think knocking oblivion out is totally fair. Especially when you add the expansions sans horse armor dlc. Martin Septum frowns upon you.