This is true, if you approach it like most games, and try to become as strong as you can. I found the gameplay to be fairly enjoyable and challenging, but I had to ramp the difficulty meter to the highest, and consciously avoided overusing certain skills (smithing/alchemy/echanting), as well as unfun tactics (like constantly going to the inventory to chug potions, or peppering monsters with arrows from unreachable rocks)... The game is a lot more fun when enemies can kill you in a (few) hit(s), you can't directly engage multiple opponents and have to use shouts and such to keep them at bay, or try to sneak around them, etc.
Basically, it's so much of a sandbox game, that you have to take responsibility of your own enjoyment.

I've always loved TES games, but it's mostly the sheer scope and freedom of exploration/finding new places that I like so much... (And in Daggerfall and Morrowind, the rich lore and morally ambiquous game world)