I actually don't mind the loop. As others have said, it helps my OCD by limiting all the backtracking and endless exploration if the game gave me too many choices in each dungeon.
Not sure if it's lame, or if I really do enjoy entering a dungeon and discovering the rock wall or barred door near the entrance that will be exit from the final chamber. it's nice, though, when you need to return to complete quests received after randomly exploring these places. You don't have to run all the way through the dungeon again.
I like layouts where I have to pay attention or consult a map to figure out my next move. Makes the whole thing that much more tense and interesting for me.
In any case, it all just seems to gel with the basic design goal of making the game easier by removing choices so the player can think less and just get into the action. Obviously, the strategy works. The product is hugely successful. I'm always going to miss the depth of the pre-console days, though. As cool as this game is I can't see it holding my attention as long as Morrowind did.