It's a terrible game. The story is clichéd and predictable, the characters all look and sound the same, there are far too many items which all do the same thing, combat is overly simplistic, you'll never have to see or use half of the stuff in the game, you can do whatever you want, no matter how much it ruins continuity, and yes, Cyrodiil is huge, but most of it is empty space with blurry grass and blurry trees.
And yet, though I have no idea WHY, I love Oblivion