

In Morrowind there were "random" dungeons, shipwrecks or even events (icarus) that you could only find by chance, which greatly encouraged exploring the world.

There were no random things to discover, it wasn't truly an open world, because most places were part of either the main quest or side quests. This is part of the reason the world in Oblivion felt so plastic and empty to me. Here is a list of ships in Morrowind including shipwrecks you could find in Morrowind: Just to demonstrate my point about Bethesda putting in less and less effort.
