Honestly, I think they're already screwed. They went with the idea that they'd need to appeal to both mainstream MMO players (e.g. WoW players) and Elder Scrolls players, which is wise. They thought that they could do this by creating a WoW clone in the TES universe, which is dumb.
That's just what I've seen so far. I'm happy to be proven wrong, and I'll be glad if you all laugh at me upon release, because that'll mean the game is great. But everything I've seen so far tells me they don't understand the appeal of the Elder Scrolls series, and how to make it work in an MMO setting (if that's possible at all; which I imagine it actually is).
First of all, TES games are not narrative focused. Furthermore, we've had narrative WoW clones in the past (e.g. SW:ToR) and they've not been too successful. Secondly, they're doing a class system and you don't need classes to make an MMO. There's plenty of MMOs out there with a skill based progression system (more in line with a TES game). The snap judgement is that you need to emulate WoW in order to compete with WoW. With a legacy like TES you could reinvent everything and still get enough people to play to appreciate your changes and adjust. Thirdly, level restricted zones. Again, there are MMOs out there that already do things more like the actual TES games. I don't know why they're so hell bent on copying WoW.
Funny thing is, I remember when the game was first announced and everybody was immediately crying doom. At that point I was like, ok, lets not jump to conclusions, it might be ok. But then suddenly it's taken on some kind of force and there's this big community behind it. You're all wrong. It's not going to be the messiah. It might be ok, but that's the best it's going to be.
Without meaning to offend, I'm calling it now; it's going to suck. That's not because I want it to suck, but because I know a little bit about MMO history.