My thoughts after all this:
I don't know about you, but this totally feels like Zelda to me. Here we have something that took major inspiration from the first Zelda game and used more mechanics to make it up to date and advance. This was pretty much the same vision Miyamoto had for the first Zelda with his whole personal adventures and stuff. How is this not Zelda? I find it amusing people wanted freedom in Zelda but now they're complaining it's nothing like the Zelda they knew, maybe they've just grown out of the series.
Anyways, I really love the trailer. Say what you will, I thought the graphics were plain gorgeous and atmospheric. It was breath-taking (pun not intended) and honestly it looked slightly better than a Wii U game to me. The world looks brimming with detail but items, monsters, animals and general detail that can both be interacted and climbed. This world looks so damn immersive. I can safely say the overworld is going to be very enjoyable for this title and the gameplay focusing around it looks so well polished and thought out.
The mini-dungeons look samey, but I understand considering they confirmed "over 100" of these exist. Maybe a bit more visual or colour variety would of helped but eh. I like the concept regardless and the new abilities look so much fun. I wonder how the main dungeons work and how many there are (predicting a minimum of 4). The technology vibe in the mini-dungeons and in general captures such a mysterious feeling, almost like what Zelda 1 tried to make me feel when I first played.
The boss we saw did 1HKO damage(?) and you were at the start of the game. This means this game isn't going to give you your way, you have to earn it and I like it. Customization is probably the coolest feature... I hope we get the green tunic (optionally) though. I don't see why not.
Some mechanics don't fancy me, but I will go in with an open mind. It looks fun, and that's what a Zelda game is truly all about to me.