If I were a dev...
My main priority would be to create an immersed living world. TES has always been about playing within a living breathing adventure and while 12 man trials are necessary for an MMO they should not be the main direction for content before lvl cap or after.
TES is the perfect franchise for a sandbox MMO. Yet all we have so far is a bunch of quests, a tidbit of crafting, some end-game dungeons, and Cyrodil. ESO is the freaking 2hour long movie of your favorite cartoon series. Everything you couldn't put in that 15/30 min TV show you expanded on in the movie.
Quests; expanded into group quests and even guild quests.
Trainers have always been a part of TES games such as paying to learn heavy armor from said master trainer, why not have special unique skills that are not available from any other skill tree cept from finding said trainer and performing whatever feat needed to acquire such skills/talents. Some cool skills, possibly new ultimates, could be added this way and it falls in line with TES lore. This would also encourage exploring as well. Double maybe even TRIPLE win!!
Crafting; tie into quests as well.
Tie in crafting with adventuring as well as group content. ie. Journey to the depths of a cave with a group to forge a daedric blade upon the magical forge of Lich King Tun'ai.
Craft dyes.
Housing; tie in with crafting.
Make crafting houses MONUMENTAL so that multiple ppl are needed (or at least help to speed up the process) to forge buildings.
Craft guild halls to allow numerous benefits (along with player housing) that enable buffs, portals to locations, secluded crafting stations, storage, a place to show off your past adventures and accomplishments from the game, etc.
But don't instance housing, allow us to forge a world/continent/zone that is alive and bustling with player activity.
Player created zones where players vie for control as emperor and entire guilds build cities, dungeons, and habitats, for others to live in and travel through.
Remember immersion and life and a proper sandbox to make that a reality.
Mini-games; such as cards (card games as either traditional poker or trading card games such as MtG) against players and NPC's.
Arena pvp.
Along with varied rulesets in Cyrodil or other pvp areas such as your standard capture the flag and what-not if you must or create entire areas/countries to quest in that are hot with pvp.
Just the simple fact of having to do some quests with looking over your shoulder can shake things up enough to enliven the mundane.
Maybe even make some worth while plots of land to build your guild hall or home strife with pvp within pvp zones.
End-game dungeons; single groups and 12 person raids for the hardened hero within you.
Dungeons with not only content to kill but forges and anvils to craft on for that magical breastplate your guild blacksmith has been needing to get to, only it's too dangerous to venture alone.
Dungeons with phased content for entire separate groups where you battle for content but must complete the steps of your group's quest first before you can engage the boss. To battle another group side by side (or if you were just flat-out better and left them in the dust) completing objectives to gain rights to kill the dungeon's boss would alone be exciting but maybe throw in pvp to heat things up and you have some content unlike anything out there for the hard-core.
Plenty here to expand the game with and not much anything that's grindy. Obviously 'end-game dungeons' will have grinding in them which is honestly unavoidable within an MMO but there is some good stuff that can be done, which hasn't been done yet in other MMO's, within end-game dungeons that does away with the grind.
My reason for all this blabbering is because I worry that the game I want to spend my time with, and I think MANY others would agree, has a future that is vague. EXTREMELY vague and at the moment seems rather unfulfilling. Players are already hitting end-game content and there's not much to do honestly and the game has only been out a few months.
Cheers and see you in game!