10 years ago I'd be horrified with this news. Today, I'm not even sure what to think. Bethesda has some of my favourite franchises ever, Elder Scrolls especially but also Fallout. In 29 years playing games (got my first computer when I was 11) I spent more time playing Elder Scrolls, (especially Oblivion and later thousands and thousands of hours of Skyrim - I still play it today) than all other games
combined. I remember times of actively avoiding my friends's invitations for drinks or dinner to play Skyrim, and outright ditching my workmates completely on the bar where we used to drink a couple beers after work on the day Dragonborn, an expansion for Skyrim was released.
However, Bethesda has been on a fast downwards spiral for years, Fallout 4 was already many, many notches below Skyrim, Fallout 76 is a parody, micro-transactions are creeping in further and further and their stance on getting control of mods (which was what made their games truly legendary in the end) to enforce their paid mods store is disgusting.
With another Elder Scrolls in the works, I should feel absolutely thrilled, but in truth I currently wouldn't even care if Bethesda suddenly announced it was closing shop... I had already done all the Elder Scrolls / Fallout "mourning" (together with "mourning" Bioware which used to be another big favorite of mine long ago) and wasn't expecting to ever see a great (or even decent) game of either franchise ever again.
So with that in mind, for me these news can only mean that either Bethesda will keep falling down the crapper, or maybe something might actually change for the better? After all Microsoft has changed a fair bit for the better since the old school / Steve Ballmer era ended... So nothing really to lose, and perhaps a slight hope for better times?.. Most likely Bethesda will just keep going down the crapper, but it's not like it wasn't already happening anyway.