That is at least one less launcher you'll have to install now.
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Bethesda announced some sad news today for those that like to install a bunch of different game launchers on their computers. They will be retiring the Launcher later this year.

I know, I know. I was gutted by this news as well.

Starting in April, Bethesda will have a system in place that will allow players to migrate their games, wallets, and in some cases, even their save games from the Launcher to Steam.

We’re saying goodbye to the Launcher this year. We would like to thank you for your support and assure you that all of your games are safe. If you’re not playing PC games through the launcher then your work is done here. Thanks for reading! If you do have games through the launcher, don’t worry. Starting in early April you’ll be able to migrate your games and Wallet to your Steam account. For more details on what this process will look like, read on.

You have plenty of time to plan and begin migrating your library to your Steam account. The migration to Steam will include your game library and Wallet – meaning you will not lose anything from your account. Many games will also have their saves migrated, with a few requiring some manual transfers. For games that require it, you will still use your login to sign in to play. Your account will not be lost and will still be accessible on our website and in-game, and we will continue supporting all accounts with our future titles.
Bethesda notes that some games will still require to log in with your account even when launching through Steam. This allows some games to continue offering you some in-game items like skins that you obtained through their launcher.

As far as save game transfers are concerned, Bethesda says that they will have details on which games will need to be manually transferred up soon. There seems to be just one game that cannot be transferred no matter what and that is Wolfenstein: Youngblood for whatever reason.

The Fallout 76 transfer has its own FAQ up that talks about what happens to your progress, builds, friends list, public test server, and Fallout 1st membership.