To all the people who repeatedly and earnestly told me TOR would kill WoW: Hey, how you doin'? You doin' okay? Yeah, don't worry about it. I know how it feels to get invested in a game like this. Trust me, I understand. Let's hug it out.
The Zenimax team behind Elder Scrolls should be taking a very keen interest in this and learning from mistakes that were made. From what I've heard, the Elder Scrolls MMO is gonna be using the same hotkey system which WoW popularised and made standard. TOR also used it from what I know. The key to bringing people into your MMOs is to do something new. A strong IP, evidently, is not enough. Not enough to justify the money spent on TOR, anyway. Bear in mind that WoW, despite bleeding off some subscribers during Cataclysm is still a juggernaut to be reckoned with. WoW players are gonna be the primary people looking for something fresh and new on the MMO scene, but they've also invested months if not years into their accounts. They don't wanna drop that for something mostly similar. Why bother? They can scratch that itch with WoW.
EVE scratches different itches, and has had a steady subscriber base for a long time. Planetside scratched a different itch, but sadly died. Hopefully Sony will impress with Planetside Next and CCP will impress with Dust 514. From what I've seen of gameplay footage, Tera has a decidedly different gameplay mechanic behind it.
People need to learn the lessons of failed MMOs (which may or may not include TOR, it remains to be seen) if they hope to enter the market.
Back in December 2011 I predicted that TOR wouldn't last a year before going F2P. It still has just over 7 months. We'll see how things go from here.