I don't think that the removal of attributes is "dumbing down" in any way. You now directly increase health, stamina, and magicka. This requires actual thought and consideration; whereas, these stats were calculated for us before. Therefore, I think this new system is more complex and gives us greater control over our characters. Stats like encumbrance and magicka regeneration will probably be invisibly calculated from our levels of health, stamina, and magicka. Skills are still increased through use, which has been a fundamental and unique feature for the Elder Scrolls series since Daggerfall.