Reality Check, Kitty!
Oblivion, Morrowind, etc are all massive worlds. They are also a bit sandbox-like. A lot of the experience they gained in creating these games can easily be applied to world-building in MMOs.
It's just the networking/UI/multiplayer interaction systems they have little experience on, but is easily resolved by headhunting for the right man for the right job. No need to hire a massive new crew for an MMO. Heck, it is known that Bethseda has an MMO in the works...

They at least have successful exp making and launching an MMO (BTW I've never played WOW so no I'm not trying to say I prefer one or the other, just making a point...comparing apples to oranges..."
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