Those who are saying yes, have you played it recently or is it nostalgia talking for you? Probably doesn't matter, come to think of it. I used to have a lot of fun with morrowind, years passed, I played it again, and now want nothing to do with it. Sure, Oblivion was ruthlessly constricting at times, but interacting with friendly AI wasn't like escorting brittle-boned sheep through a wolves' den, lockpicking required your own skill in the same way combat did as opposed to "this number determines that even though your sword sticking out of your foe's spine, you missed!" In Morrowind, it was like the only thing I could fully control of my avatar's actions was movement. (minor complaint: this being the days before mo-cap, the running looks like that of a possessed puppet thing) Then there's the several mile hikes you have to take (unless you're blessed with a teleportation spell that sent you near your goal or you had been there before and marked it) to get anywhere, cliff racers not making your day(s) any easier.
I remember having more hate, but at least in Morrowind, when you level up, you're the only one and it's possible to find super-powered artifacts (you know, GOOD equipment you didn't have to wait until everyone else was carrying to get your own) to play with. 5 bucks is a pretty good deal and at the least it'll kill time, whether or not brain cells follow depends on you.
Tip: look up the Creeper glitch in Caldera, if you can.