Hello, I'm MangaBottle, and I'm ready for my fishy-stick.
Elder Scrolls' spin-off titles have always been rather hit-and-miss from what I can gather. The most interesting attempt in my opinion is The Elder Scrolls Adventures: Redguard and while that particular experiment didn't pan out, I think the basic idea of a linear Elder Scrolls game could work, and it could be a great way to introduce newcomers and veterans alike to the lore of the series. It doesn't need to be as 'big budget' or intensive as a main series game.
My idea is that the creators could follow the example of Telltale games and create a bunch of small, narrative-focused adventure games with a pre-made character, perhaps an important figure in Tamriel's history, and the story is likewise focused on a major historical event.
If Bethesda/Zenimax wants to be real cheap (which might not be such a bad idea since spin-offs are always a gamble) they don't need to render 3D character and environment models and cut-scenes and go with a pre-rendered 'storybook' style. They could even do away with voice-overs and just use textboxes. They could always do a 'remastered' version anyway if the sub-series proved successful.
So that's my crazy idea. I really have nothing more to add but to let this svcker set sail, and wait and see what the seething masses have to say! Enjoy.