We now know the developer behind the remake, and it is actually the main Zelda team themselves, EPD 3: https://www.gonintendo.com/contents/66785-main-team-behind-zelda-ocarina-of-time-s-development-revealed
The devs also considered adding fast travel to the game, but ultimately decided against it: https://www.gonintendo.com/contents/66789-nintendo-tested-new-fast-travel-points-in-zelda-ocarina-of-time-s-remake-but-decided
And lastly, Nintendo confirms that the character designs/visuals are based on puppets shows and practical VFX: https://www.gonintendo.com/contents/66784-nintendo-confirms-puppet-inspiration-behind-zelda-ocarina-of-time-s-character









