You might dismiss it as a non-"genuine" argument, but personally what i really liked in Morrowind beyond lore and world building was world exploration. It is the only game where i had fun following directions to some cave - the cave itself wasn't anything special and in other games you'd just teleport to it or near it via fast travel or something, but in Morrowind i had to follow vague directions, plan how to go there via the in-game travel options and then read the environment.
I don't disregard your experience because I've had the same experience in the past. And interestingly enough, I used to say that, once you replay Morrowind, the joy of exploration is lost as you already know where do you need to get to without the need to follow any directions. Sure you may have lost your way the first time trying to get the Dwemer Puzzle Box. But on a second playthrough, you know exactly where Arkngthand lies, and where the cube is, among many other things.
Yet I was wrong. It's not that the joy of exploration is killed after a replay playthrough. It's that the joy of exploration is short-lived. Finding something without the need of quest markers gets very stale. Which is why even though New Vegas tells me exactly where do I need to go (through quest markers), I still find myself loving to replay its quests even if I know the possible outcomes. To me, that feeling never gets old. I'm still drawn to the quests, the characters, the world and the writing. But even if I play new quests in Morrowind, they all feel so mundanely similar, with the most "interesting" aspect about them is having to follow directions.
Just think about those two words: "follow directions". We (rightfully) criticize Bethesda's quest markers, but following directions isn't a particularly stimulating activity either. Morrowind's lack of quest markers, as someone pointed out, wasn't a novelty when Morrowind released. So why is this one aspected of the game praised so much? Even the exploration falls apart when you (when
I) realized that there were countless caves, tombs, kwama mines, Daedric ruins, Dwemer ruins, and so forth to discover... but nearly nothing of interest to find.
I play ping pong with Morrowind and New Vegas, constantly rocking back and forth between both games. But for the past year I've realized that while I dread to mod Morrowind, mostly because once I'm done, I don't feel like playing at all (because the eager to play was barely there to begin with), I
always love to mod New Vegas and can't wait to get my setup up and running, because I know the finished product is worth it.