There's no pleasing some people. I liked Morrowind, Oblivion, and Fallout 3 - all for different reasons. Sure, there were some things I disliked in each game but in general I found the gameplay enjoyable - enough that I spent 100+ hours in each. So I really can't complain.
If the previews are accurate, Skyrim is taking the better elements of those three, scrapping the worst elements, and trying some completely new ideas. Maybe it'll be better than its predecessors (it's shaping that way), maybe it'll be slightly worse. Either way, even if they do things as "badly" as Oblivion, it'll still be worth playing. It's not like Bethesda is descending to the level of Capcom.
If you compare Oblivion/Morrowind/Fallout 3 to other western RPG/FPS-RPGs, they're in the company of Mass Effect, STALKER, Dragon Age, KOTOR, System Shock 2, and Deus Ex. None of those are bad games. There are some bugs in all of those, over-hyped features, and underwhelming gameplay elements. Bethesda does some things extremely well (show me someone who does completely free-roaming RPG-oriented gameplay better, because I can't think of anyone), and other things less well, same as everyone else. I'm really tired of all the RAH RAH BETHESDA SUCKS BECAUSE OF X RAH RAH. It just sounds tired.