I even think the loot in Skyrim might be worse than Oblivion. In Skyrim, these items are the main rewards from quests whereas in Morrowind they were just awesome little extras thrown in.
And finding the Masque of Clavicus Vile on a freaking mage in Sorkvild's Tower. What happened to the days of Morrowind when you could find a crazy awesome and unique looking item, weapon or armorpiece from doing a bit of exploring? I remember one time I was just swimming along near Ebonheart underwater (Argonian ftw!) and found a grotto with the Dragonbone Cuirass inside. I am opening Master chests and doors and finding things like 'Hide Gauntlets' and 2 gold.
After almost 150 hours of the game, and after me telling myself that the loot will eventually get better, I have to say this is by far the biggest let down of Skyrim.
