Seems like they made that game not for Elder Scrolls fans, but rather for mobile gamers who they want to bring into the ES fold. Look, just like Blizzard making a mobile game, as a developer you'd have to be stupid to ignore the mobile market. For ongoing revenue it works. Sadly, there are millions of mobile gamers who will pay for chest timers, or keys, or gems, or whatever. Why not take advantage of it? I probably won't play it unless that changes. Same with Diablo: Immortal.
EDIT: I just started a new play through of Oblivion on my PC, so I am happy.