Like most people I have some mixed feelings about it. I recall a particular experience in Morrowind, when I first ventured into Red Mountain as a noob, knowing fully well I was not strong enough to fight anything there. It was a chilling experience, the atmosphere of the place felt wholly evil and knowing that lurking behind every rock could be some menacing powerful Ash Vampire that wishes to eat my face made me so paranoid and scared to be in this place.
Looking ahead though, in Oblivion I NEVER had this feeling, I was never in a single dungeon, a single plane of Oblivion, a single location on the map where I felt that I wasn't ready for it, that I could not possibly win.
As much as Skyrim improved on the concept of level scaling, it too felt vastly underwhelming, there were a few occasions that you could have those moments, like running across Dragon Priests early on but by and large even the terrifying dragons of the game soon became nothing more than an annoyance akin to Cliff Racers after a certain point. Fortunately since I own it on PC mods have largely solved the ease of difficulty problems.
I actually LIKE when games don't scale because it gives me a true sense of a lived in world and enemies where they make sense. Obviously nobody wants to fight a level 50 rat unless it's an Undead Rat God, so generally most intelligent level scaling just replaces weaker enemies with stronger ones, but then this means that what was a rat hole is suddenly an orc camp, or is suddenly a demon's nest. It break the immersion when you don't really tailor the environments to their hosts. It becomes particularly aggravating when suddenly you no longer have rats, wolves, or common leather wearing bandits anymore because they all suddenly got eaten by minotaurs and ogres, and all the leather wearing bandits became wealthy enough to afford Gold plated armor... but still want to toll you for a measly 100 coins.
I also hate item scaling with a passion, and this is something that carries over from MMOs, how you can do a massive quest chain that feels epic that takes a long time and you get rewarded with an awesome epic item that suddenly becomes obsolete in a few levels because it was scaled to your current level. I would be alright with this IF there were additional means of improving the item to 're-scale' it to your level. I'm surprised no MMO ever did this, instead of just replacing epic gear with epic gear, why not an option to give you some kind of magical orb that you can use on your existing gear that upscales it?
Enemies should be placed where they make sense. I don't have too much to complain about the level scaling in Skyrim to be honest, but it still doesn't feel quite right when every undead nord I wake up suddenly is an overlord who gets into a mass shouting match with me just because I saved their dungeon for much later.
I much prefer tiered content that makes sense, and preferably the kind that makes minimal use of reskins to challenge me or at least does so intelligently (Final Fantasy XII did it quite well in my opinion)