Somewhat.
Combat in TES, at least in Skyrim, can or could work if the AI were allowed to be better, magic scaled properly, and sneak wasn't horribly OP. Oh, and the food and potions were fixed.
The AI definitely needs to be improved, and part of this is a proper class system. Classes exist in Skyrim, but there is little difference in their behaviour. After some modding, I managed to make myself 2 main melee classes that meant you couldn't just run in sword swinging.
The first had a sword and a shield. It blocked 80% of the time, attacked 20%. If you tried to power attack it, it would shield bash you whilst you were starting your animation, staggering you. Whilst you were staggered, it would power attack you. You had to wait for it to attack and counter, or use magic, to be able to effectively fight it.
The second was a two handed warrior who would flank you whilst the shield warrior followed normal combat movement, and who would power attack you mercilessly to stagger you, and when you were staggered the shield dude would power attack you too.
I also modded dragons so that they would rarely land, occasionally hover, but would spend most of their time flying past and breathing fire on you. Made them far harder to fight, as melee can't hit air, bows are hard to aim at constantly flying targets, and magic didn't have sufficient range most of the time.
Magic in Skyrim is flawed, though I'm not sure how it is in other titles. Destruction Magic is the main problem, as its strength doesn't scale with level. Basically, you deal the same pathetic amount of damage all through the game, unless you get a couple of perks. The same could be said of swords, except that a Daedric Sword is significantly more powerful than an Iron one, so you don't need sword damage to scale with levels. Magic is either prohibitively expensive if its strong, or useless if its weak. Scaling damage with level would help with this.
Sneak... I don't mind melee sneak attacks, especially if the enemies are positioned properly so that it becomes difficult to assassinate everyone from behind without the others noticing. Its a fair concept that is slightly lacking in execution. Ranged sneaking... Just no. Whilst its cool the first time to be able to one hit an entire army of enemies by sneaking to one spot and shooting them, it needs to be less OP, else it just becomes boring later on. Something as simple as having the AI be better at searching could help, forcing you to take up a difficult position further away for sniping, or to move around a lot once you kill one guy, or to take them out in an order similar to what a melee assassin would, but from a distance.
Potions and food are one thing that really needs to change though, and I'd almost tie this in with a change to the stamina system. Potions should not be instant effect. You use it, and you regenerate that health over a minute or so. Slightly advantageous, not game changing, and so long as they don't stack its near impossible to exploit. An instant health recovery item should be available, but it should be incredibly expensive thanks to the benefit it provides.
Food should not recover health. For one it should have an eating animation, and for two it should recover stamina over time like a potion would, with the potion being the highly expensive instant recovery option for stamina.
I would also add a hardcore mode where stamina has a higher cap, each action using stamina uses less, but stamina slowly degenerates over time. The way to stop this? Eat food. To regenerate your stamina there are expensive potions, or you can rest and receive stamina instead of a bonus to XP. Been trying to mod this in, but Skyrim is annoying me with how its buffs work.