Oh, I hate that about Oblivion too, I just didn't mention everything I dislike about the game because most of it has nothing to do with Fourth Edition D&D. Trust me, it's more than you, I've played everygame in the series.
The thing is, "dumbing down" is just a less politically correct way of saying exactly what you are saying. They are stripping down everything about the game to it's bare essentials in order to appeal to those who can't handle the complexity of the current game, and refuse correct their problems themselves by simply not using the parts they don't understand. Then they add a bunch of badly thought out gimmicks and buzzwords to make it "cool". It's the most common design in gaming these days.