I'd like a spin off game, not a replacement for the TES "main" games. So like... 2011 we get TES V: Skyrim. 2016 we get TES VI: Summerset. But! In like 2013, we'd get Elder Scrolls Adventures: High Rock, which would take us to the city of Daggerfall and only the city of Daggerfall. I think it could be fun, but not as a replacement for the main games..
You really should play TES 2: Daggerfall, assuming you haven't.
This thread brings up a really interesting point about TES, and that is that these games were actually a whole lot more intellectually challenging and deep than they are now, having increasingly sacrificed depth for breadth over the years. Part of that has to do with the general dumbing down of the mainstream games industry, but it's also just because of time crunch. Daggerfall rolled out in 1996, and it didn't compromise on anything. It was a titanic free-roaming thing that actually offered convincing geographic scale both outdoors and cities, making Morrowind look like a quaint little island getaway, and Oblivion like an amusemant park. It had infinite procedurally-generated quests too (it's taken us 15 years to come
back to that), and had monstrous storyline(s) that will make your brain hurt. But of course it's made to mid 90s standards and its complete graphical content could probably fit on a single BMP file, and the majority of the money and time could go into coding and writing. The writing is the one thing I really miss most about TES. Look at how much dialogue is in Morrowind vs. Skyrim and Oblivion. Sure, there's voice acting for everything now, but at the cost of the story being pared down to practically nothing. Skyrim isn't terrible but it's still more like the starting outline of an TES story, not the full product. Don't even get me started about Oblivion.
So anyway, those glory days of having your cake and eating it too are behind us. So what can you do with this franchise that became famous for having more content than you can afford? Bethesda made their choice, and if it was the right one, well, there wouldn't be threads like this. I would like to see more parallel-released spinoff action/adventure games that were far smaller-scale but got deeper into stories and characters than the big free-roaming ones. They could even be complimentary to the huge ones, and cross over in different ways, making up for each other's deficiencies. I would buy that. I swear I would pay another sixty bucks, Bethesda, to have real dialogue back, and some actual memorable characters too. Even if the whole thing were written by Michael Kirkbride and eventually descended into incomprehensible metaphysical crazy, I'd still buy it. I could think of no better way for Beth to regain their cred after Oblivion, in fact.