Blue Ocean strategy involves innovative, bringing things together, and not competiting against anyone, new market, new product.
Example of Blue Ocean Strategy in ESO could be housing system like The Sims.
Rather than have people who like to play around with housing go explore and do dungeons and stuff for housing stuff, how about make housing stuff obtainable by doing housing itself.
Make housing a whole new game inside a game. People go mingle with other players doing housing, people goto a 'work' and fast forward time. People go study in library and learn how to do other things. People have to take care of their hygiene. People have to ensure they are fed properly.
You have the food in game.
You have the books in game.
You have the housing system in game, just make it open world, make it a new instance thats open world.
You have minor tasks people can do in game.
You have everything pretty much set up, all you need is to integrate it into a Blue Ocean strategy.
More players will come into the game, sure they wont be MMORPG'ers, but more the better.
Think of Cirque du Soleil, bringing two aspects together, theater and circus.
The circus had the actors
The circus had the stage
All they did was integrate theater in circus, and they taking over the industry.