In comparison to the region of Skyrim and Cyrodiil, the province of Morrowind has a unique landscape. The Dunmer also make this game very interesting as well with the rich Dark Elf culture(although somewhat disturbing). The Elder Scroll prophecy in Morrowind is by far the best in the series(unless you're into thu'ums and dragons). Nervar rising!
But like many have said before, the game itself did not age well. One thing you'll have to remember is that Bethesda did not rely on voice-acting prior to Oblivion and there is a ton of text to read. Some would consider that to be a fault while I just remember many games using text to tell stories. The combat isn't exactly real-time with hit detection, blocking, parries, and dodges. Instead the game relies on your skills and attributes to calculate whether you'll hit a enemy or not. Like some one said above, you can swing at a rat for a minute, and still not hit it.
Do you remember some of the older TES fans complaining about the skills system in Skyrim because it was too streamlined? Once you play Morrowind, you'll understand what they're talking about(or still disagree with them). Everything, and I mean EVERYTHING is a skill that needs to be raised. One-handed axe, one-handed sword, and one-handed mace are all separate skills. Athletics allows you to run faster, and acrobatics allows you to jump higher. It is still easy to make hybrid classes but not as accessible in comparison to a game like TESV.
And like many older games the graphics aren't the best anymore. Although there are plenty of mods to change that around and making this game gorgeous! I personally love the story in TESIII and the quest are by far the best. I'll admit that in 2004, I was still a bit frustrated with the combat at first when playing it. But if you love role playing games and TES it is a must play.