I was pretty upset when I first saw the Creation Club announced on the stream, but now that I've thought about it some more, I think it might not be so bad.
That is, IF they get the pricing/value right. If I can spend like $30-40 total on like 10 great "Add-Ons" a year from now that all work perfectly together and expand the potential of the game far beyond the current vanilla+DLC combo, I'd probably do it. If it was quick and easy to get (significantly) more armor/weapons, enemy variety, inspired quests and locations, all matching the quality of some of the all-time great mods, I'd pay for that.
I'd ramble more but detritus already said it better and quicker than I did.
My only concern is that, if the Club is a success, then Bethesda might limit the potential of free mods for TES VI or FO5, directly or indirectly. I hope that won't result in the downfall of the sex and gore mods for the new releases. If all the skilled modders try to go professional, but not all of them get through the approval process (because Beth just can't handle overseeing too many projects at once), the rejected may (rightfully) decide to leave the "free modding" scene and work elsewhere rather than waste their time not getting paid.