The fee...it's reasonable. And considering that the elder scrolls games all have an 18+ rating on them anyway, I don't quite think they're going to be aiming for teenagers to be the ones that pay for the sub...
It may well go down like SWTOR. I don't know how many of you have played SWTOR, but a lot of the game, I can play by myself, and often, the launcher doesn't seem to work. Every patch update seems to break the game. Other than the fact that the storylines are pretty good, that's really about it as far as SWTOR goes. A lot of the side quests (Or sometimes main quests) are retrieve six of these and hand them to another player. That's why I don't like playing MMO's sometimes, and why I've struggled with Perfect World, Rift...etc etc. From what I've heard about ESO it doesn't seem to be like that, but then, I haven't played beta yet. And I'm a bit hesitant to pay out a large amount for the actual game disk, let alone sub fees, on something that may not be so great.
I don't mean to be mean with the last bit of this, but nobody owes it to you to make a free game. Sadly, that's the way the world works, and the people at Zenimax/Betheseda require money to buy food, pay rent, and pay the electricity bill like us all. The question of whether the sub fee is worth it or not can't be answered until the game is released. If they release content as they're promising, and it's as good as everyone claims it to be, then perphaps it will be worrth it.