Oblivion has quests to do. There are three types of quests. First is the main quest which is where you need to save the empire, battle hordes of demons, kill the worshipers of a demon god, and help defeat a demon god.
Second are the faction quests. You can unlock magic galore with the mages guild. Or you can smash skulls to the wall with the fighter’s guild. Borrowing items your thing? Join the thieves’ guild! Hunt in darkness and slit throats with the dark brotherhood.
Third are the minor quests. Help people for all sorts of rewards. Or don’t whatever you want. But is it worth a magic sword?