They'll do a hybrid. It's pretty clear as soon as you read their interviews. There's a reason Eiji Aonuma wanted to make young developers more familiar with OOT - a classic Zelda game if not THE classic one.
I love the BotW world but Ocarina of Time shows yet again how important dungeons, side characters and story telling is to Zelda games. Especially dungeons.
They could just easily follow Echoes of Wisdom design choices whilst including traditional items again. Imagine large traditional dungeons with the dungeon map, compass, dungeon item and a mini boss or two to beat while you traverse through a labyrinth/maze like dungeon which is enormous and complex in size. I think nobody would complain after that aside of the usual crybabies.