I wonder how you even made it past level 1 in morrowind since they didnt have any perks....you dont enjoy exploring? progressing through the game/quests/storyline?
I think its great perks are limited....that limit adds much uniqueness to each persons individual character.
Having the limit there also gives more weight and importance to the decisions you make giving you that feeling of risk/decision/consequence....and i think that adds IMMENSELY to the feel of the game making it exponentially better.
I guess in my case a big part of the fun is all about progressing.
If I ever get to a point in a game where my character is so wealthy that I can easily buy anything in the game, it instantly becomes boring because there is no more point to looting enemies and accumulating wealth.
If I ever get to a point where there are no more challenging enemies, it also becomes boring because there is no point to accumulating more XP, skills, perks, spells etc. in order to deal with challenging foes.
Hopefully Skyrim has fixed the leveling part and included some powerful enemies that will still kick your ass on level 70 or 80, etc., when you play on the hard difficulty setting.
The economy problem, on the other hand, is something that is in almost every RPG released in the last 10 years. It is usually way too easy to become rich. Almost certainly I will have to install an economy mod to make all the merchant prices a lot more expensive, just so that there is always at least something new to save up for, some outrageously expensive and cool magic item I want to buy but can't afford, etc.
If there are no perks in a game, of course, who cares about perks. But I think after playing skyrim for a long time, I will get accustomed to choosing a new perk at each level up and I will be bummed if I reach level 51 and don't get a perk. In FNV, it wasn't a problem that there were perks every 2 levels, but it's more about the feeling of looking forward to something, that makes the progression fun.
It's certainly possible I could play for 300-400 hours and still never reach level 50, in which case, obviously it wouldn't matter.