I'm going to play Devil's Advocate here and contrast some points in the interest of balance. I am hoping to play ESO, either on PC or PS4, but currently don't have the funds.
In response to those arguing against the monthly subscription:
Some of you make valid points in that to pay for a game and then pay a subscription is too much. I assume I am right in saying that the most successful MMO in the USA and Europe is World of Warcraft, which did the same. TES players are obviously used to paying one price for the game, another for the DLC, and that's it, which is great for a single-player game that's not an MMO. The thing is, how do you expect that Zenimax will continue to develop new content and update (or finish, in my opinion) the game with things like the Thieves Guild and Dark Brotherhood and a justice system, as well as the fact that they plan to release 'DLC-style' content every six weeks or so, if players pay once and then never again? A monthly subscription is the only way to ensure continued development and improvement in an MMO, rightly or wrongly. The free to play argument just makes no sense to me.
However, I really hope that the paid exclusives and pre-order bonuses aren't a sign of things to come as far as a 'pay to win' system goes. If that is the case, my interest would wane significantly.
In response to those mentioning hardware:
This is 2014. A few years ago when PS2s and the original Xbox was phased out, did you say that it was unfair? If you want new games making the most of newer technology and advancements, this is the way it is. It would be simply impossible to play ESO on a 'past-gen' console. If you can't afford it, I echo DrunkenMage in pretty much saying it's tough. This is the way it's always been and the way it always will be. I don't think it's Zenimax's fault for making the game on the best new systems, that's common sense. I'll buy it when I can afford it, and that's my choice when the time comes.
In response to those saying that they don't like the idea of an MMO:
IT'S THE ELDER SCROLLS, YOU HAVE TO GET IT!
Nahh, just kidding, but still. There will be so many books to read, places to find, interesting new weapons and armour, people to speak to, monsters to fight, etc, but all with other people! I've seen so many people on this website over the year and a half I've been here saying how much they want a 'Skyrim multiplayer.' I think this is as close as we're going to get, unless TES:VI really pulls something out of the bag.
In truth, despite all the news and build-up for TESO, I'm more intrigued about the future of the TES series with VI.