All i've read is people are rather upset that Bethesda isn't doing it, instead of being happy like you. I do hope they nail this one and won't hurt the franchise.
I'm happy they aren't making it because it means the actual core team of Bethesda games (games like Fallout and the real Elder Scroll games like Skyrim) are focused on making the same amazing single-player RPGs they are known for doing. Instead of them focusing all their time/energy on an MMO that looks to be pretty generic, they are putting all their time/energy on the next big game of the year title in Fallout 4. So long as the big single-player TES/Fallout games keep rolling out, I'm content with however TES online turns out.
Also, they don't know anything about making an MMO, so it's better they leave that up to a different team that does. I will say, though, if this MMO was first person and played very similar to the single-player games, It would probably be one of my most anticipated games ever. I am very disappointed that they went the generic third-person gameplay style.