The Elder Scrolls series has always been about narrative and atmosphere, but now you'll be tasked with forging your own story as the game will indeed be making the transition to the Massively Multiplayer Online arena very soon.
Apparently Bethesda has been hard at work on the game for several years now and has some pretty lofty goals for it.
Now, as far as details about the online successor to the Skyrim/Oblivion/Morrowind crown- there aren't any yet. Bethesda is still being very hush-hush about it, though I'd expect a freer flow of info right round E3 time.
For now, you can expect lots and lots of grinding. And if you'd like to know what we think about the idea, why not click here.