I generally hate to compare features of different MMOs because each game offers something different, but I've just been confused on some design decisions that were included in this game. They already had a background for how Elder Scrolls games played and a plethora of different topics coming from the lore to inject into their design. Here are some of the issues I take with the game and perhaps a possible fix:
1.Class design
Why? Why? Why did they decide to make static classes in this game? This seems to just go against all things ES related. They already have skill lines fleshed out, why not allow players to pick the three they liked best and use that as a class. This has been done in other MMOs and offers greater freedom to spec how you want. Granted there will be FOTM builds still, but no matter the system they will still exist. I realize it's probably too late for ungrouping skill lines, but I really can't see why this wasn't thought of at design (my guess is money was allocated into voice acting instead of decent/experienced programmers).
2.Armour
You're going to put all the buffs for your most powerful skills into one type of armour that can put you at or close to the armour cap and then make the game a dps/heal race.
Bigger differences between armour protection is necessary! I cannot even tell the difference in wear 7 light vs medium when looking just at protection, heavy you can tell helps a little but you start getting over cap with 7 heavy at around level 10-15.
Nerf or change passives on armour! Why make the passives so huge? It makes it harder to balance on everyone. Passives should be small extras, say 1% per piece. You can even go by 0.5% for each point, but we had to have 3% per piece of armour! Do you see how much you can get with a set of 7? 21%!!! That is no small reduction! Reducing these buffs would AND changing armour protection could solve the armour imbalance in this game, and it should be relatively easy to fix this!
3. Other features
Underwater swimming/ boating
I got into the beta for ArcheAge this weekend and I really wondered why ESO couldn't have at the very least had an underwater swimming mechanism, the Argonians are waiting! Boating would also be a nice touch, create a mount type device that can be used on the water and then just restrict a border so people can't go out of bounds or something.
Trading!
So many ways to open up the game through trading (yeah, I got the idea from ArcheAge, but it is a good one!). Have certain quests from NPCs that require you to craft something from a certain zone/ collecting items from multiple sources and bringing them back. They could be special recipe drops or rare drops off mobs(both of which are already in-game) and I'm sure the PvE players would love it!
Set up a trading board in each town for crafting and trading items. Player A posts which item he wants and at what price. Player B goes to a trade board and has the item Player A wants. Player B accepts trade agreement, which should show up as a notification for Player A and both players have the names of each other. They can talk or Player B can just mail said item/s. You could even tie it into the justice system! Player B takes a trade agreement and doesn't fulfill it in 12 hours? -Rep/-Points or whatever the justice system uses.
Housing
Pretty much a staple for most MMOs. People want a place to call their own. A limited storage in the house and somewhere to display goodies/furniture. I would love a well developed housing system with all the bells and whistles, but I suggest starting small and working up. I'm sure there are plenty of threads with features that the community wants, so I'm not going to list a bunch.
Arena
Personally, I hate arenas for PvP, but I realize it's a popular "want" item by many. This isn't my idea and if I could find the thread that suggested this, I would link it. Have an instanced arena be a part of the Imperial City, whoever controls it gets to play with it. Granted, you'd be playing against your own faction members, but you can call it a battle training arena or something and let people go at it. It would be like a spar but with small teams, heck do the 4v4v4 as a simulated "alliance war". Have leader boards that reset with the campaign. You'll see people AvA to get that city and not want to lose it just for that arena. PvP people happy.
I welcome any feedback on my suggestions, and perhaps ZOS can take a look!