I don;t tink ESO is designed as WoW-like. Seems much more like Dark Age of Camelot. That said, this aproach might be too niche for such budget.
Sadly, it won't be a new DAoC. The only thing that will (hopefully) resemble DAoC will be the new game from Mark Jacobs, Camelot Unchained.
And it won't have a PvE at all. I backed it just because of this. How so many MMO still try to create tons of quests and areas for levelling up, while almost completing ignoring the end game, baffles me.
When DAoC came out I spent 4 months to level up to 50, but I loved every second of it. There were no quests at the beginning (ok, to be fair, there were some, but I know no one that actually paid attention to them or liked them), so you needed others to continue. The modern MMOs all seem to forget that they're supposed to encourage you to play together with someone else.
Of course, DAoC was a bit different, as you had access to RvR combat from the very beginning if you wanted. And knowing that the end game was there, fleshed out and actually interesting, was the motivation to keep levelling up (and it was painfully slow after level 40).