"The majority of this building is working on The Elder Scrolls 6": Todd Howard says Bethesda's full focus is on the RPG it announced in 2018, and "it's so different than Starfield, so different than Fallout"

"We feel we're in a really good place"

GamesRadar+
More than 8 years into development with nothing to show, and they feel like they’re in a good place?
To set your expectations accordingly, it was probably a skeleton crew working on pre-production, grayboxing, and technology upgrades while the majority of the studio was on Starfield until a ways after it shipped. So they announced it way too early (often a tactic to get talent to apply for a job), and they’ve probably only really been working on it for about 2 years now.