If you want a watered down Skyrim/Tamriel and have money blowing out of your ass then go ahead!
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It's actually not like that at all. Have you played the beta?
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No, I saw the trailers for it and the graphics looked shitty compared to Skyrim's. To make it an MMO you'd have to spread everything out and Skyrim was already fairly unpopulated. Add to that hordes of idiot players with XX1337snipesassassinXX as their Gamertag and it looks very unappealing.
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I've played it and it looks almost on par with Skyrim. The names are well-placed too.