Hm, that looks like a lich to me...which instantly raises my interest in game.

I think I hear distorted pieces of Ganondorf’s organ theme from OoT’s ascend towards his throne room in his castle as well near the end.

Yep, I thought that too. It's even more obvious when you listen to the audio of the trailer backwards: https://www.youtube.com/watch?v=ln5SOiyEn7w.

It seems that Link is somehow controling that turquoise hand. Gamexplain has uploaded an analysis of the trailer where you can clearly see how Link uses some kind of power with his hand that turns it to a very similar colour. What intrigues me is the fact that the "hand" over the dead figure, the one Link is supposedly controlling, has claws in the shadow over the wall. Can this mean that Link will have, or will transform into, some sort of evil "alter-ego"?

It hope it's the MM to BoW's OoT.

I much prefer OoT, but I'm fine with a Nintendo system having first an epic adventure, and then a weird creepy sequel.

Hmmm....what if Link becomes the villain and Zelda has to rescue him from this evil force?  

You know, ever since I completed the 2nd DLC pack (and by virtue, the game) and started looking forward to the next installment. The #1 thing I wanted for whatever the next 3D game would be after Breath of the Wild was that Nintendo would take the Majora's Mask route and make a sequel (not so much in terms of story, but gameplay and assets) that make use of the same assets and groundwork established in Breath of the Wild and perfect them to make a new, full experience that would truly stand on its own and be just as amazing, if not better, than Breath of the Wild. (Just like Majora's Mask ended being to Ocarina of Time, at least in my view.) And sure enough, that's exactly what we're getting!

That is 100% Ganon's corpse. The hand holding it down is some kind of Sheikah magic sealing the corpse beneath the earth. My guess is what we're seeing is the very start of the game - Zelda and Link travel beneath the castle to find and destroy Ganon's corpse, but things go wrong. Ganon breaks free and retakes his human form (which has presumably been sealed for millenia given what we learn in BotW).

It could be a number of things really. It appears to be a catacomb beneath Hyrule Castle, which is where Calamity Ganon first appeared in BotW. This would make a Ganondorf resurrection of some kind not too far fetched. He was a fan favorite after all, but only appears in 3 mainline games.

However if the game takes place outside of Hyrule, being pulled into an alternate reality via some new evil entity is also very possible. This would not be the first time this type of event has taken place within Hyrule afterall and given the theme of the trailer, a journey to a neighboring land does not seem likely.

As to whether or not this means a return to Termina however depends on if this is actually connected to Majora or not, and there really is not enough evidence for me to comfortably back that theory up. Future trailers will make this more clear but FOR NOW, I am going to say no to this being Majora.

No matter what the case is however, this announcement made my day. It is no secret that I and many others have suspected that a MM style sequel with reused assets on Switch would fit well with the timing of this E3. Saying I am hyped would be a massive understatement.

It's the Gerudo symbol. 99.99% chance it's Ganondorf. Looks nothing like Majora.

Seems like a darker toned sequel, in that way it is like Majora's Mask.