http://www.youtube.com/watch?v=3UEc5...layer_embedded

This game has multiple mounts. You can build your houses anywhere. You can build castles. You can seige castles. There are hundreds of quests. You can swim, climb, jump, and even swing with ropes. Magic animations don't look like crap. There are instanced dungeons. You can build your own ships. You can sail your own ships. There are no zone lines. You can sail to new areas. You can ride pillion on other people's mounts. There is mounted combat.

And it's still in beta...

It's pretty typical that MMOs today have a similar amount of features during beta. FFXIV released in an alpha state, and it will never be able to compete with upcoming MMOs at the rate it's releasing content. SE needs to invest way more manpower if it wants to stand a chance.