Just a quick poll. I can't be the only one that this effects so badly, I thought it might be my memory playing tricks on me but I looked at a side by side video of the difference in greenery and it's actually the difference between summer and autumn. Not just the shade of green which gave the original a fairy tale Fantasy feel but the amount of it on screen. Skip to 5 mins 35 secs in...

If any technical people out there can answer. Can they fix this with a patch if enough people call for it? Also, HDR won't work, is is faded out in the menu so you can't get contrast and vibrance and a replacement for bloom lighting from that, at least I can't yet on PS5. 

If you're going to play it on PC, someone has made a Reshade profile to bring back the colors as they were: https://www.dsogaming.com/mods/this-oblivion-remastered-mod-brings-back-the-colors-of-the-original/

It's not the best solution, but until a proper mod fixes it, it's all there is.

If you're on console... well, if enough people complain about it, they may launch a patch to change it. But it's far from guaranteed.

looks fine to me

I'm enjoying my time with it. I never once thought, man that tree isn't green enough for me.

All images taken from the OP video.

What I see is a larger green color palette being used, rather than just a few shades of green.  It is not taking away from me becoming immersed in gameplay, if anything, it's enhanced.  If you're wanting a more fairy tale fantasy type feel, Fable may be a good fit for you.

I'm more disappointed by the performance. Stutters are frequent, typical UE5 game

My eyes are drawn to the right side for every comparison. That's how I remember the game in my mind, the left looks out of place.

But I'm more disappointed (strong word, knew it would never happen) that I can't play it on PSVR2 like Skyrim on PSVR1.

Has anyone been to this part yet? Curious what they made of this in the remaster

This looks so much better. By default, the remaster looks more like a 360 game than the 360 game, and I don't mean on a technical level. Just the era of brown games. Remaster is too brown.

I am disappointed by the lack of a physical release more than anything.

I don't mind the artistic re-imagining with the Skyrim logo plastered through the world. (I.E. Exiting the sewers on the gate.)
And I don't mind the new colour grading.

I bought Oblivion for the fairy tale Fantasy feel that's light on the head and it ended up being Clair Obcur which is giving it to me even though I bought that game for other reason. 

I will return to this at some point but I'm still disappointed with the way it feels, I'll get over that disappointment though in time. Oh and also, HDR settings that you can turn on might be patched, HDR is there in the settings but faded out. Couldn't figure out why, wouldn't accept my TV perhaps. 

Exactly, even the bloom as archaic as it is has a place and with HDR settings thst won't work there is no compensation. I hope HDR works with a future patch and that adds the vibes and vibrances bavk in somewhat.