Better soundtrack (BotW was in my opinion one of the worst of the series)
Better story

Imagine sailing in the sea like the Windwaker, but instead of landing on tiny islands and picking random treasure, the island from afar starts to appear on the horizon, and as you get closer a huge massive piece land engulfs the screen. That would be a dream! I'm not saying I want a Windwaker game but maybe adding some elements of past Zelda games would be truly gratifying.

What you said was good. I'd like to say that the dungeons were small for a massive landscape like that. Even though the open world itself is a puzzle of sorts, it does get sometimes repetitive, and it would be nice to have more themed dungeons, monsters and an engrossing Story (fix the character sounds please).

That said, I do always feel that creating a story in an open world is difficult. You either get games that focus on the story and make it more linear, or games where the story becomes secondary. I feel BoTW's story while not great, was very effective in setting the open world tone. So it would be interesting to see what they come up with.

As you said, BoTW is a marvellous game, but what's amazing is how much the series can push forward from here, and I felt that since I started playing the game. They got the harder part right, the physics, open world and all the new mechanics, the next iteration should just utilise those aspects and evolve the other shortcomings.

"-Allowing Link to travel underwater again" - YES

And a day/night cycle that works according to real life, including a season system. If I turn on my console at 9p.m then the game should be presented at night too.

Yup, I just want more classic enemies reimagined like you said Re-Deads, Dodongos, Gibdo, etc. Also a story that's more focused and engaging. I simply did not enjoy the BotW. story. It felt half baked, the fact that you had to view the past rather than experience it is a good idea on paper and does fit the narrative but the narrative itself is dull and predictable.

I understand Nintendo puts gameplay over story but I see no reason why the game can't have a story that's at least half as interesting as OoT.

And of course, please bring dungeons back. And I don't mean the structure of previous Zelda dungeons, but something more along the lines of Hyrule Castle in BotW. The Divine beasts were just bland. I understand that in terms of progression it's difficult to make everything flow in an open world setting, but the way Divine beasts were structured into the story progression just felt safe and predictable. Hearkening back to the original Zelda, you had dungeons that you could enter, not finish, and come back later once you had an item that might aid you. I think that should be explored but even more so in the next Zelda.

Gameplay is spot on, I wouldn't mind the same system with some new moves. BotW's music makes sense, but for the next one I think a more varied soundtrack and pronounced soundtrack would be great.

I want a new 2D Zelda, I hope Nintendo doesn't abandon the format.

I honestly had no problem with the story. In fact, after finding all the memories and other story related things like Zelda’s diary and whatever I actually liked the story a fair bit. I mean it’s not a new Lord of the Rings but definitely decent enough for a good video game. Especially with the added story of the DLC.

At OP I can agree with most things. The enemy variety, the hookshot, they could’ve easily have been part of Breath of the Wild.

and make the weapons stronger than frail glass...

The main thing I'd want to see would be more dungeons, but *actual* dungeons, not the BotW version of dungeons, which were more like large puzzle rooms. I'm talking about navigating room-by-room through a series of areas that require keys, a proper mid-boss, map, compass, unique item, cool bosses.

Other than that, I like the idea of more classic enemies appearing as well.

Full set of climbing gear lets you climb when its raining.

Actual side quests, that are interesting. Not "Bring me 55 rushrooms".

Actually rewarded for attacking enemy camps and fighting in the overworld so I don't decide to avoid pretty much every fight because it's not worth the effort.

More abilities so shrines/dungeons are more varied, and it's not as easy as "Obstacle? Scan with magnet."

BOTW had many shortcomings that a sequel can improve.