The Elder Scrolls Online - Announcement Trailer

Sounds pretty good, but it seems as if everyone is doing MMO's now a days (points to FamilyGuy).
I wonder if it will be F2P with a horendous cash shop that is play to win or if this is going to be a P2P game.
It seems the days of P2P are going out the window either you buy the game and can play online like Guild Wars or it goes straight F2P like Aion.

We shall see though.