Other games have so much better and smoother graphics as far as I know and have seen. The regular argument is that this engine is so special because it draws so many objects, but I think that's completely crap. Look at other games which draw worlds even bigger than Skyrim in one loading (not considering pop-ups which exist in all games) and you notice how much better they look. A good example is the Uningine: http://www.youtube.com/watch?v=lw4_9s9fDB8
Huge worldspaces, much better graphics?
In all honesty, I don't really care a moddable an engine is. If the game is great enough from the start it doesn't "need" any modding. I would never make my weather mod if the vanilla weather already was good enough.
Still, no offense, but I imagine this thread (and my above reply too) is pretty useless, because there's no way in Antartica that Bethesda will change their engine. As far as they are concerned, they already have changed their engine (even though we all know that the Creation engine is the same engine as before, just with a new name). Bethesda would never admit that their own "new" engine is bad enough to force them to change to a new one; I mean, who would?