If we reword the question as "Is Elder Scrolls 6 doomed to be a mediocre experience?" then my money would be on "yes". Bethesda generally seem to aim to make games just as good as they need to be to make money. Capitalism over creative expression.
If the game is good enough to get people to buy it and consider buying the next one, that's all the effort it's worth putting in (as far as publishers are concerned). It's not a new approach, they've just had a lot more practice at it than game developers/publishers had in the '90s.
Temper your expectations as unless you're willing to buy a few million copies yourself, they can't justify the cost of caring what you think.
...and no, I do not approve of this system one jot. It's gross and antithetical to creativity. I'm glad we have a lot more independent developers who aren't as beholden to neoliberal capitalism these days.