Played the betas, was not impressed. The graphics were nice but graphics are secondary or tertiary concerns when it comes to MMOs. My impression is that it is overly ambitious for a company that is taking its first steps into MMOs and it has all of the classic flaws of an MMO. It might be fun as a F2P like Guild Wars 2 where you purchase the game but have no ongoing subscription required to play, but I am not about to pay a subscription for the game as it is now. And, as previous posters have said, I would much rather play a small group co-op Elder Scrolls game with my friends, than an MMO with hundreds or thousands of players competing against each other.
When I play MMOs I tend to be soloing my way through everything that is not gated away and helping others where I can. I could not care less about guilds, raiding, and most world events as I don't have the free time to invest that deeply into a game. Two of the greatest innovations I liked about GW2 that I wish more games would do is letting everyone who participates in a fight or event benefit according to their contribution rather than making and gather points that only go away for the player that just harvested them instead of everyone on the server.
Maybe if ESO was innovative instead of looking like just another MMO with a coat of Elder Scrolls brand makeup thrown on top... Maybe then it would be worth it in my eyes, but not as it stands now.