The style, from an objective arts POV, looks absolutely nothing like TLG. Different color pallet, different shading techniques, different artstyle, different animation style, different lighting techniques, different texture detailing. They are on oppsite ends of the visual spectrum.

This:

Looks literally nothing like this:

That's probably because the direct footages are vertical slices. They are meant to only show the best, most isolated, visuals of the game. The off-screen footage did not look average at all. It looked fantastic outside of unpolished animations and stretched textures on that one mountain side which likely wasn't finished because it's inconsistant with the other textures in the game that were in that same trailer. Everything else though was on par. That moment where Link jogs to the top of the cliff to marval at the sunset is as beautiful as both of the vertical slices, including the texture work on the stone he is standing on. When Link is riding through those woods, the grass looks just as good as it did in the reveal. Epona's model has been exactly the same each time.

Again, the only thing different here is the textures on some of Link's equipment have improved. It's exactly the same with all three pieces of footage otherwise outside of location.

E3 2014 teaser, looked better.

No, it didn't. Not graphically. This one has better textures if anything.

This pouch on his leg has an eye on it. Pretty obviously the Sheikah. That stinks. I was hoping for a hyrule devorce of old reverances and races like in WW.

Also, the official screenshot has been released. I'll just rip off the wound now - 720p with no AA. That makes me happy for various reasons, but for everyone else, there's your downgrade.

Well, it's not really a downgrade. Nintendo always releases bullshot higher-res images for their first reveal of a new Zelda. They did it with SS, TP, and OoT3D. The actual quality otherwise is exactly the same as the reveal trailer. There was a comparison done. Outside of the time of day and different weather conditions, everything looks the same.

Zelda U is missing in the most anticipated game of 2016 in the game awards... Since we know the VGA loves trailers, is it safe to assume we won't see a trailer for Zelda U this year?

Don't expect anything there. Nintendo said that more info on Zelda U would come in 2016. 365 days = 13 seconds of teaser footage. Better luck next year.

Hopefully the NX version will be full 1080P with anti-aliasing so the image quality is really pristine.

Yes, that E3 picture is 1440p.