I'm not really happy about it.
Its important to note that its not made by Bethesda themselves, rather their parent company ZeniMax.
The reason I don't really want it is because I feel like its ZeniMax selling the series out because an MMO can be a nice cash-cow if it goes well.
As well as that Bethesda have always openly been against creating an MMO for the TES series.
Basically I think it'll boil down to a pretty standard boring MMO, Oh and I hate to break your hearts but if you love playing Imperial, sorry... you can't xD.
Sorry to be the only one who hates it but there we go