At the moment? Too many things for it to be realistic.

1) Two entire subscriptions (even if one is seasonal instead of monthly) in a game where I had to previously purchase everything, and a game that has a cash shop and loot boxes on top of it? Sorry, but that's a no from me. This sort of thing should NEVER happen. I have spent a lot of money on the game, supported it financially via all the monetization systems we had, but I am not, and will never, juggle 2 subscriptions at once. They should have been merged, somehow, maybe tiered on top, but they should not be this blatantly separate.

2) ESO+ has lost value, but continues to cost far too much, despite the game soon having an entire second subscription. Absurd. Craft bag always sucked as being a necessity, with it being sold as a solution to a dev created problem, but I paid for it despite the bad taste it left in my mouth. Now that the value of ESO+ is even lower, leaving practically only the craft bag for 15 bucks, the bad taste has gotten hard to ignore. Nowadays I also do not trade as much as I used to, so passing on it won't be that dramatic.

3) The most important aspect. I am willing to pump a lot of cash into this game, when this game is actually good. When I feel like there is a lot of content, good QoL changes, when I feel that the monetization is not actively devolving into a more predatory one, etc. At the moment? That is not the case. QoL changes for the future are great, and I am very much looking forward to them. Everything else? People argued that "all the future content will be free though!" but frankly there is almost no content that wouldn't have been free before. No more proper zones. No more proper stories. No more dungeons. I played Night Market on PTS, and hey, it's pretty good, but it's more akin to an event than any sort of DLC. No wonder it's free. We'll get a few little quests that expand on the thieves' guild? Why, that's wonderful. But it's not comparable to even a 1/10th of a chapter. Do I want the game to be improved so it can be built upon in the future? YES! Have I not heard this a million times before only to see the game not get improved in any substantial way, while we missed out on content for no good reason? Also yes!

Additionally I am very wary of seasonal models of all kinds. I have seen where they took games like Destiny 2. I also remember well the reasons that preceded, that made all kinds of perfect sense, and made players hopeful for the future, etc. But in the end it was less content produced for the same amount of money charged (and eventually even more money charged than before), with no long term improvements bringing in promised new players. And due to those experiences and that caution, I couldn't possibly force myself to invest more money until I see for a fact that this is not happening here. I expect that will take a few seasons, and in the meanwhile, as written above, I am not juggling 2 subs, not paying for only a crafting bag, and not supporting the lack of zones and campaigns financially - therefore not coming back to ESO+. Once/if the game proves me wrong, I will dump enough money back into it, to make up for the pause. And if not... well, frankly ESO will have bigger problems by then.