Hell, your "Huge 50 floor dungeon" is damn near an exact, albeit vague, description of Mournhold.
Given the relatively static nature of even The Elder Scrolls games, it's hard to justify continued play after the main threat (or sub-plot threats) are eliminated. At least for me, exploration, be it story-wise or world wise, is an important incentive to perpetuate a single character. Grinding for "Sweet loot dawg" doesn't really hold any allure once the primary conflict is over.