Simple question but feel free to add on any details for how you'd create a LoFi Elder Scrolls MMO if you like.
I am also using the term LoFi loosely by referring to games like Project Gorgon, RS OS instead of games like Dwarf Fortress or 8BitMMO just need to make that clear.
I was thinking the other day that IMO the greatest leaps in the MMO genre were made in games that weren't really intending to WoW(pun intended) anyone but did. All the games that were made pre-WoW had just intended to just get a few hundred thousand subscribers and not the millions that games today shoot for. I remember EVE being heralded as a great success of the industry because it maintained 300k subs over the span of a few years. How times have changed? eh?
Microsoft buying Zenimax and now controlling that IP to be able to do whatever they want with their huge pockets makes be wonder if a LoFi MMO could not only benefit them but also us - let me explain...
Microsoft obviously doesn't care about flashy games(visually top tier) when you look at the games they created or taken interest over the years like Minecraft, Gigantic, Sea of Thieves. While AGS is basing their entire game on nice gfx the same as many other studios just look at Anthem those games are often very shallow and lack any real depth. While ESO is visually beautiful and many aspects of the game like housing/crafting are top notch IMO the main faults of the game are the exact same parts of the game that old skool MMO's excel at like combat(skill + spell variety) and character progression.
Microsoft also does not like spending too much money on new development projects from looking at their history. Minecraft Dungeons and Sea of Theives are the main examples I'm thinking of. Hey! that's okay! make a LoFi Elder Scrolls MMO where the cost will be minimal.
That old gaming industry rule of never making a game that with take away players from another one of their other games also will work in this scenario because the people who can stomach ESO's combat and enjoy the PVP probably won't shift over to a LoFi tab target Elder Scrolls MMO with a bajillion spells cause 'dats too many hotbars and too many skills'.
Carlyle Group buying Jagex recently and right after announcing that RS OS will be added to Steam means that the oldies still have life in them yet. As the population ages and everything starts to fall apart(eyesight) that top tier visual + action combat becomes harder to manage no matter how much you love any specific game. I speak from personal experience because games in my youth that I viewed as 'not nice enough' or not enough of an adrenaline rush are now my main games and have been my salvation during this pandemic/lockdown.
To close out.. if two people can make Project Gorgon with all the features it has using Unity assets and minimal funding then how about Microsoft going that LoFi route and provide the old geezers and soon to be old geezers with a toned down Elder Scrolls MMO experience so that we may spend our golden years enjoying Tamriel and everything it has to offer.