I can buy the "moving between dungeons in the big world was boring" part based on what we saw at the game awards 2014. It looked like an awfully barren world at that time. I wouldn't be surprised if the delay was to make the world feel more alive and have things to do since Nintendo still kind of has to wrap their brain around a true open world concept if that's what they're doing. They've yet to do that,so there will be learning curves for them just like with their HD development issues at the beginning of Wii U's life.
At the end of the day the bottom line remains the same though: this game is of extreme importance to Nintendo and they aren't going to release it until they feel they can truly deliver on a next gen Zelda experience. I think they will. I really don't see this being another TP or SS where "big changes" were promised and at the end of the day it ended up being really just another great but same ol' Zelda game. I believe they want to do something truly invigorating for the franchise this time, and that is unlikely to be without its hiccups. So I'm sure that's the reason for the delay. On a more specific level though, yes it could be open world issues they needed to sort out IF they truly are going the open world route.