I don't even mind enemy scaling. I mean, it's annoying, but whatever. The item scaling is fucking brain hemorrhage inducing. I have no idea why they would want that.
In Morrowind, you used to be able to steal some shit, run like hell, and end up in an area WAY overpowered for you and you'd have to hide and run and make due with what you had because that was how it made sense. And you could sneak around at night back to the Thieves' Guild to pay off your debt. And it was awesome.
In Oblivion, it's like, what are you going to steal from the stores? Fur? It's really annoying that the cities have 2 people in them too. Radiant AI was bonk, add more people.