Its an MMO obviously, still I got the TES feeling already in the beta on the stating island, and it was an preorder.It's easily more of an MMO game, but that's obvious considering it's the genre. lol
I do feel ZOS did a good job implementing many TES elements over the years to balance it out as best as possible given the thousands of people running around the world.
Cyrodil is most definitely MMO-content.