This looks awesome and it makes me happy.
At the same time it makes me sad for Zelda. Why isn't Zelda an open world game anymore?
Hopefully Namco takes this further and makes an open world action/adventure game. Basically the same sort of thing, but the world is full of monsters to kill and items or currency to earn.
"[Our former customers] are unable to find software which they WANT to play."
"The way to solve this problem lies in how to communicate what kind of games [they CAN play]."
Satoru Iwata, Nintendo President. Only slightly paraphrased.