How is this game in ANY WAY rewarding? Enemies keep dropping the same useless loot over and over and over again. Quests returns don't give any XP and very little loot/gold (sometimes nothing at all).
Exploring?! Get out of here! Exploring is not rewarding. How is this game rewarding??? In what way? What am I doing wrong here?
On the most basic level, for me at least, a game (or movie or book or comic) is rewarding if it entertaining/enjoyable/engaging. If I am enjoying, or being entertained or engaged then the entertainment is rewarding me. Guess what - Skyrim is entertaining/engaging/enjoyable for me, so it is rewarding to play.
Then you get on to other rewards these mediums can provide (some of which Skyrim also provides) but that most basic level should really be present.
But as to the point you are getting at - in game rewards: Exploring - you're subjective view. XP/Gold - why yes, we stopped the evil reign of Hercanth the Big Jaw, our reward is freeing the land from his tyranny and some numbers we can add to our numbers so we can swing our swords harder! HUZZAH! Again, your subjective view. The only thing more I want in relation to completing some quests is the game to recognise the achievement more and any advance I make to feel suitable to what I have done.
There is satisfaction and reward from playing and completing and RPing.
As for loot - obviously there is loot otherwise you would still be dressed in your peasant pants at level 60 and there wouldn't be all these pictures of characters in many different suits of armor/robs wielding lots of different weapons. Quanity though does not equal quality. I like lots of good, well thought out treasures and things like that, but not just for the sake of having something with a different name so I feel I have to go searching the corpse of everything I kill from bandit scum up to Stormcloak nobility. If I was a knight a questing in ye old days I wouldn't expect the body of the starving brigand I just killed to have Excalibur on him (unless I was on a quest to retrieve it from a Brigand or he was in a location where it might make sense for him to have it - ancient ruins or tombs the bandits have looted for example), so I don't know why I should expect it on a guy in a game on the same level as that.