I just came to think of something.. the way the loot system works, the end game for pve won't have any incentive other than lore & explore.
Basically once you've cleared a dungeon, it's done, finished no reason to go back other than maybe help your friend.
Please tell me I'm wrong (and maybe explain why)..!

Pvp

Do you think it is going to be 100% drops? I doubt it. I haven't played but I did catch a video of a group fighting a dark anchor and they didn't get the same loot.

This seems to be the bare bones of what many MMOs do to keep people playing the same content repeatedly though personally I'm not a fan of it. The reason why I'm waiting for WoW's next expansion is because LFR mode (Looking for Raid) is barely enjoyable except for getting a chance at loot; once you've done it, it's over - you either do proper raiding, achievement hunting or your progression comes to a complete halt until the next patch. I don't enjoy raiding in that game so it's either do it to get the most from the patch or leave. I seriously hope TESO does not make this mistake, and instead allows everyone to do something at endgame.

From what I understand however PvP does seem to be the endgame focus, and I'm sure at lv.50 lots of things will unlock for it. You've also got the other two factions' quests to do but if you've already done them, that's something else to cross off the endgame list. Honestly though I don't know what you can do at endgame once you've cleared the Dark Anchors and dungeons. I will still look forward to killing world bosses and taking out the Dark Anchors though so long as they don't spawn every 15 minutes. If combat in this game is enjoyable, I'm sure I'll enjoy replaying dungeons even if I don't need loot.

Don't forget Adventure Zones, the card the devs seem to be playing very close to their chests.

No. It's not going to be 100% drops, it's going to be completely random afaik, it's gonna work somewhat like the loot system in Diablo 3, and that completely svcks!!!
If you can "beat the game" in avarage gear, there's just no point in continue trying to get better gear. Those two things need to go hand in hand; Get better gear to beat more difficult encounters in order to get better gear.
And right now I don't know why I made the assumption that the end game will be piss easy and not require Awesome gear.. maybe cuz in my head I'm thinking of the TES-series and that would mean a limit to the quality of gear... derp derp..
I really should try eating before posting stuff in the future >_< My baaad!!!