True, but if you take a closer look at it, it's not as glorifying as it may seem.
Look at the one-handed skill tree. there is only 1 perk that only apply to axes. There is only 1 perk for maces, and 1 for swords. I would hardly call this a deep specialization. It's only there to serve as an illusion for specialization. Really, all it's there for is a band-aid for the deep wound that was inflicted upon the complexity of weapon specialization when bethesda decided to "streamline" the game by merging ALL one-handed weapons together into a single skill.
I miss the days when training with an axe contributed to my strength, which would help me use other melee weapons a bit better, but for the most part it helped me use axes better. I could still pick up a sword and not feel like it was a foreign object, but it would definitely feel different and I wouldn't be nearly as proficient in the art of swordmastery. I'm not saying the system in morrowind was perfect. It had its flaws.
In fact, I like the perk system in Skyrim a lot. But it doesn't make up for the merging of all melee weapons into two skills.
I truly don't understand this sentiment at all.
It seems so silly to me to force the player to decide early on what specific type of weapon to use and essentially make it so that he can never really change that decision later on because he will do terrible damage and not hit anything with any other weapon type. This is how it is in Morrowind. You can't change weapon types without gimping yourself hugely for quite a while. If your character uses Short Blades and you find an amazing Long Blade, can you use it effectively? No, not really.
This is a flaw in my opinion.
And I do not see any corresponding positive to having all those weapon distinctions. What does anyone gain from it? If you want to focus only on axes, just decide your character is an axe user and only use axes. To me, all the Morrowind system does is limit your ability to change how you fight stuff (and honestly, I'd find it hard to have a character go through an entire TES game without ever changing his battle strategy up a bit; it gets repetitive otherwise).
EDIT: With that said, I really do like the idea in Morrowind of different weapons being better suited to different attacks (ie. spears working better for jabs, axes for chops, swords for slashes, etc). It makes the weapons actually feel different and make them more suited to specific ways of attacking that correspond with how that weapon actually is used.