It's actually Zenimax Online Studios that is making this game.
It's just a team made up one day when Zenimax said: "Alright, we need an mmo. Get some animators, modelers, artists, designers and project directors and get on it." Without thinking about how best to make an mmo with the elder scrolls ip, or how best to make an mmo in the current market.
It's the exact same situation now with this mmo as it has been with the old republic, warhammer online etc. It looks good at first, but looks more and more generic as more and more information is revealed. They promise it will be new and innovative and cool, and you just get a stupid grindfest that is made to take your money first, and entertain you second. I hate every MMO without exception, they're not good games.
Excluding EVE online.