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I know a lot of people, especially former DAOC players have been wanting to see this in a new MMO, to each his own, but coming from someone whose first MMO was DAOC, I haven't forgotten that there were downsides to splitting every server's population into three factions. I mean, was there any server in that game that had a fair realm balance? All I remember were over half the servers had Albion stomping all over the PvP zones with 100 man zergs every night, maybe 1-3 where Hibernia had just enough to put up a fight, and Midgard was pretty much just an RP free farm for the other 2 realms. One of the worst memories I had though is when they brought in the "classic" servers back in 2005, I remember at peak hours, there was a total of around 3600 online total, and when I ran a quick in game search, only about 800 of them were in my realm. When you really think about it, only being able to interact with roughly 1/4th of the entire population on your server is kind of depressing. I didn't realize it until I had settled on that server, and there were no such thing as server transfers back then.
But the absolute worst thing about these factions is the exclusive races. This is just really unfair and harmful in my opinion. Because now if you want to play this game with a friend/spouse/family, then your options for choosing a race are very restricted, much moreso than WoW. And this is Elder Scrolls, just about everyone whose followed the series has declared their loyalty to their favorite race.