MMORPG based on Elder Scrolls to be?

Well-known developer and publisher Bethesda Softworks has opened a new studio that will specialize in the development of MMORPG. The head of the ZeniMax Online Studios division will be Matt Fieror. He previously founded Mythic Entertainment, which created the MMORPG Dark Age of Camelot, and is now working on Warhammer Online under Electronic Arts.
via gameland

It seems that the game industry is still heavily leaning towards MMORPG, which only lazy people are not developing. It can be assumed that ZeniMax Online Studios will develop an online game based on the world of Elder Scrolls. And if this is so, then I strongly doubt the success of such a step: such strong atmospheric role-playing games as Morrowind or Oblivion can lose the lion's share of their charm by moving online.