Looks like tasteless shit to me. It's like they mashed every open world 3D game into a mindless computer and this is what it spit out. Not even a hint of the classic music from the NES and SNES series when Zelda was actually fresh and refreshingly different from other games. Zelda should be a top down dungeon explorer game.
Looks nice. If it is good or tasteful depends on why you are doing things in this world and what these things are and how fun/useful/challenging it is of course. We can't see that in this vid. It could be as good as Ocarina. Not planning on getting the console or game though, but if I had the console I would be interested in this game.
I agree with Asmo in that I'm not going to purchase the console to try out the game. I have a Xbox 1 and am currently in the middle of Far Cry Primal, which is turning out to be an ok game. I sort of agree with the top down down dungeon assertion by Relaxxx but also know that there has to be room for improvement for any great video game. The differences between this one and those may be the very thing that makes it good. Anyway I actually remember the original Legend of Zelda and I liked it.