It's incredibly long overdue, but welcome nonetheless. Bethesda announced via livestream they will be adding a free-for-all Deathmatch mode, private matches, and a competitive arcade mode.
The arcade mode will involve campaign and competition, so I'm guessing it'll pit players against each other for speed runs? That makes the most sense but maybe they're going more for a scoring system.
We'll be learning more this Tuesday in a livestream event for the game. Expect all of this to hit sometime in the Fall for free!