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This is the type of MMO you play for 7-8 months months, then you never touch it again! I don't think it is worth it at all. The main reason is the pvp may be really fun at first but it gets boring and ultra repetitive after 3 months. Lets say you play at least 3 hours a day, that is 360 hours in 4 months, assuming you played the game slowly and didn't enter Cryodiil until you complete all your veteran ranks. Then you spend the next 4 months pvping/doing dungeons/adventure zones. IT ALL GETS REALLY OLD QUICKLY! The PVP is nothing but a zerg fest, no one is unique, your gear is scaled. Once you clear a dungeon or adventure zone, are you really gonna wanna keep repeating that? I don't think so, even if you started a new character, I for one don't like switching alliances and I especially hate repeating storylines in elder scrolls games, there is hardly any class variety anyway.
Face it, theres just not much to do in this game, even when they release more content, you will just complete and and not play anymore once again and as time passes they will end up releasing content at a slower and slower pace once subs drop quickly (and they will). This game is TOR all over again, the only difference is TOR sold a ton at launch and died quickly, this sold some at launch (no where near TOR) and it will die slowly.
Just look at future additions, only adding pve content mostly and 2 measly little arenas. This game is not worth it at all, the pvp tries to be some merger of skill based/traditional mmorpg's but it is nothing of the sort AT ALL. It is just a button mashing no skill brawler, you see an enemy you spam your 1-5 skills at them then hit them, that is why the pvp is so bland in this, it also has auto aiming so its not really skill based. What would make an amazing fantasy MMO would be one that has gameplay like Chivalry Medieval Warfare.
Even WoW has more longevity than this, in wow, everyone is unique, you are not scaled, you can world pvp anywhere in the world (if you are on a good world pvp server like emerald dream or bleeding hollow), there is a huge variety of pvp battlegrounds, then there is arenas that makes it really competitive. What does ESO have? A big giant war where what you do doesn't really matter, theres no points for killing people, no score board for your pvp progress, just one big giant zerg fest, really, 2 little arenas are not gonna save an already repetitive pvp game.
This game is going to die faster than WoW has been slowly dying, WoW actually gained subs recently and is still sitting at about 7.5 million, I doubt this game will ever make gains once it drops, it will slowly die down, maybe it will gain some after some expansion but it will quickly die down again. The game engine simply isn't good enough, it makes pvp very boring after 3 months.