Total disappointment. Mark 2 out of 5. And do not tell me that this is "only closed beta". Developers team have outstanding experience of making games and still didn't pay attention to what they must make at first:
1) I was a bit late for stream, so first thing I saw was a horse summoned from nowhere. God, please, make it as in all other games in series, let the poor horsy exists while you not ride them.
2) Graphics. Yes, WoW funs stunned by it, but this ones who played Morrowind know, that the graphics level is of Morrowind time. And if you put some new textures in Morrowind it will looks even more better.
3) Animation. Combat and moving. Unhuman movings with no sense of gravity. Speed of actions is ruins all. Magic animation make nothing but eye pain - fast splashes and glimmerings will cause epilepsy among players.
4) Sounds. Showing the bow, you have to be sure that sounds is perfect. But they not. Game sounds awful and there is nothing to discuss. I only waiting for some combat music with the hope of a masterpiece.
And all other little things I saw and didn't mention. TES funs still can say how game is good and "give me my beta keeeeeeeyyyyyyy". But as MMO player I see no difference between this game and any other.
PS: immersion? You call such dungeon grinding immersion? Pff. Pfffff. Pfffffffffff.