Skyrim's biggest problems by far were stupid quest design, quest lines and the plot, which unfortunately are unfixable, even by Requiem.
Plot and setting on the other hand are Morrowind's greatest strengths and this remake won't change that.
Also, those Dev videos are legit impressive with the amount of work they've put in. Morroblivion looks like crap, but I don't get the same feeling here. Quite the opposite actually. The new tech they have could create a pretty interesting experiences in the game. See this Ash Storm for example:
Assuming they can implement underwater combat and levitation, I see no reason not to try it out.
The big question is, can they set the challenge curve just right or will they chicken out and make it as easy as Skyrim? ARPG that is too easy is just pointless. Requiem style approach would work really well in VVardenfell, because areas with high level content can easily be designated and the players should be aware of them beforehand. Daedric Ruins and the like, as well as places like Grazelands where new players practically never go.
Next TES is pretty far away, so if they can release it within 2 years, Skywind might get a pretty big audience.