Will this happen any time soon?
Myself and the people I know are quite fed up playing at a minimum 250-300 ms.
Add family downloading or doing skype video calls and that makes it 400+
Don't get me started on Cyrodiil.
Ping not only delays actions which makes both PVE and PVP harder and unenjoyable, but it also creates FPS stutters when things fail to load on time.
I know ESO isn't played by many people, but there are definitely a lot of Australians/NZ who want an Oceanic server. In a gamer group I am on facebook people keep inquiring whether ESO has Australian servers and are being put off trying or returning when they are told there still aren't oceanic servers.
On top of that, with all alliances being able to see each other outside of cyrodiil when that update hits later this year, the world will be full of players and which gives a perfect opportunity to launch an individual oceanic server.
I would even pay $ if I had the option to transfer at least one of my chars onto an oceanic server where i'll have like 50 ms max.