Greetings!
I am extremely concerned about the game, but not in the way you might be imagining. I have enjoyed TES since Daggerfall, especially Morrowind. At the time I assumed it was because it hit all the RPG factors I consider important: a character progression system, rich lore, intriguing and discordant political system, a large amount of varying factions, and, of course, a sense of exploration. I also enjoy doing these activities with friends, so this game sounded like my ideal. It wasn't until much later that I realize WHY I love TES so much.
However, since WoW, I've watched game after game launch to great fanfare and fail to meet expectations. Some were more bold in this regard than others (remember Rift's 'You're not in Azeroth anymore!'?) yet all essentially copied WoW's formula while applying a twist. For Tera it was live-action combat, for Aion it was PvEvP, for SWToR it was complete voice-acting and tailored story, so on. Each game was decent in its own right (I still play SWToR) but they all were too timid to do away with one WoW holdover that I fear will doom ESO. It's what the gaming media and players themselves think the only way a game will succeed is they have enough of...
The Raid.
The reason I love TES so much is the lack of Raid. End game for me in Morrowind took about 1.5 times longer than the Main Quest, side quests, faction quests, Mournhold, and Soltsheim combined. It was simple, breath-taking exploration. I spent hours in the Ashlands hunting every ebony cave, every Kwama egg mine. I spent time hunting Grand Soul Gems so I could trap Golden Saint souls and make the very best Fortify Magicka enchantments on my clothing. Why? Because I wanted to see the biggest, widest, longest-lasting Fireball possible (I named it 'Nuclear Bomb'. Why not? I tried it first on Divath Fyr, of course). I spent time hunting Daedric ruins for the Dai-Katana when I had little skill to use it. So I spent time with my Long Blade skill! I scoured the world for every book there was. I played with the Fork of Horripilation. The point here is that the end game was whatever I wanted it to be, and I bet you all had your own little objectives in your game, too.
For some reason, the Raid is absolutely required in MMOs as an endgame, with a few rare exceptions. In every MMO I've tried, the big deluge on launch raced to max level to crush the Raid and report back to forums and blogs that it wasn't good enough. SWToR has some of the best stories to explore (for being too theme park) yet the complaint was, yes, you guessed it, the Raid. This is the one and only metric that matters to WoW crowd is the Raid. And every game since WoW has tried to pull in WoW's numbers by copying the Raid.
It's clear at this point that no one is going to top WoW's numbers, yet I fear ZeniMax is going to try anyway. They'll feel pressure to make the changes the WoW crowd wants: watered down leveling, exploring, and crafting, so we can get to Raid. All obstructions to grinding Raid is a problem to be dealt with to these people. The journey means absolutely NOTHING. They are not going to make an exception for ESO. They will buy the game, there will be a big pile of people, and then the first 6 months will see a giant drop-off in population as the Raid doesn't measure up.
I don't want to be concerned about the game. So let's try something different. To Hades with the Raid. Stay true to TES, and give us the sandbox we expect. Change the metric! Up front we aren't concerned about hamster-wheel Raid.