Nah, there just isn't enough room for creative player challenges involving the physics engine. The only thing I could see being made into a challenge would be something involving stasis, and I believe all of the bosses and friendly NPCs are either immune to stasis objects or are in areas where they couldn't possibly be hurt by a stasis'd object. There's the potential for something along the lines of a "kill a Lynel using only stasis'd bombs" challenge, but there's just not enough variety for it to take off in the same way that GTA has.
(And that's before we even take into account Nintendo's...content unfriendly policies)
BotW will probably be more of a speedrunner's game, which is encouraging in its own right. Nintendo hasn't had a particularly speedrun friendly game since I'd argue Metroid: Zero Mission.
