Yep, that looks like an MMO. There's just something horribly off-putting about the style of gameplay and presentation that comes with an MMO and, until someone within the genre manages to innovate to such a degree that I don't immediately think I've seen the game before, I won't buy into another MMO.
Also, incredibly disappointing to see the Elder Scrolls universe treated in such a way. I want nothing to do with this game...I did like the traditional ES-style map though, none of that Skyrim 3D bullshit.