Well in Oblivion you start out with just some prison clothes and wrist irons, so how is that any different? Granted, it doesn't take you too long to get a bunch of stuff, but you still have to kill a number of enemies in order to get to that point, and do some exploring. It's not like the game simply placed everything in your inventory right away, you needed to earn them first. And the stuff you do end up with is the crappiest in the game, so it's not exactly a Monty Haul that way.
Well, you also got a rather expensive magical staff, and a large pile of loot to sell at the conveniently place Imperial City. I always immediately sold all the items from the tutorial, and was able to afford some rather nice gear.
Also, you get a steel shortsword, which is better than an Iron one which they could have given you. Also, as your light armor you get leather, which is better than fur. So you skip the bottom tears for those few items. Granted it isn't much, but that put together with what you stated, nearby enemies and the dungeon across the river, you get along quickly.
I think a slower start would be nice, where you have to do a few measly jobs for a few gold until you can afford a weapon or piece of armor that allows you to do comperably in a fight against anything stronger than a mudcrab.