Nintendo EAD and Monolith Soft working on an open world zelda game, you are not going to get a better scenario than that.

GOAT.

Really, it seems like the perfect two franchises to collaborate. Should be a stellar game.

Well, seeing as this was the Zelda team's (and really Nintendo's) first time and first experience with making a game of this size and scope, they ere going to need all the help they could get to guide them in the right direction. And after the success of the Xenoblade games, Monolith Soft was the perfect partner to turn yoo.
Looks like that acquisition has certainly paid off tremendously!!

that's almost bad news in a way. That means monolith is not at full capacity to work on a new game. Nintendo needs to hire more quality development teams but i'd be surprised if they currently have the income to support that kind of expansion. Could be a rough year 1 for nx.... which will probably turn into a rough generation :(. Man, i'm not usually that pesimistic. what just happened?? lol

Hopefully the game has a real ending unlike Xenoblade X.....

Good news

I doubt Monolith has any influence over the game's story.

While I agree Nintendo needs to hire more dev teams, Monolith has been helping out with EAD games for a while now. They worked on Skyward Sword and Pikmin 3 as well. Their next game wouldn't be due out until at least 2018 anyway, probably longer, so they may as well help to ensure that NX gets a strong launch title in Breath of the Wild.

Well if there's an upswing to it, it's that once NX is out, they'll only have to develop for 1 system and 1 system alone (2 if you want to include mobile gaming), so all of their main, dedicated resources won't be split and spread out to two seperate systems with different architecture. 
And after the previous generation of the Wii and DS, as well as the money they're making off of amiibo, they should by all means have enough money to expand and hire new teams. But, we'll see.

Defining a generation is becoming increasingly difficult.