It's ended up layering a bunch of other additions on top to make it feel like a more contemporary third person action game: such as, for example, a target lock which can also be used for aiming projectiles.
The big deal with the True Directional Movement mod ( first clocked by Eurogamer) is not just that it allows full 360° movement, though this is the core feature. There are already, of course, a ton of Skyrim mods that make various tweaks to the third-person view ( here's the best of the best Skyrim: SE mods).
