Eh, I think Fallout NV did better with the RPG elements. Fallout 3 was more traditional Bethesda, where the story is lazy but the world is full of easter eggs and fun things to discover.

The problem with Fallout 4 is that it had none of that. It had a bad story AND it wasn't particularly fun to explore. I lost interest near the end and didn't really finish it until recently. 

An ideal Fallout game would have a map designed by Bethesda and a story written by Obsidian. Instead, Fallout 4 came out as an engine to sell Pop Funkos. 

As for why it gets that hype, It's personal opinion. I feel Fallout is generally more immersive than Elder Scrolls, and having played a little bit, I honestly don't see the appeal of Far Cry. Everybody has their favorite pizza I suppose.