Was about to say exactly what Odai said. While it does seem to be influenced by Monster Hunter and Shadow of the Colossus (or perhaps Assassin's Creed), and perhaps Okami, I wouldn't call those "modern trends." These are ideas 10 years old at the least. What is interesting is that they're not trying to go out of the box to do things that hadn't really been done before, like most Zelda games have done. Nothing novel here, but it does look like a fun combination of things that hadn't been combined. I've always wanted to get into Monster Hunter but was turned off by its seeming lack of directed progression, and Zelda could be an ideal solution for that.
What I didn't see a lot of was... well, Zelda. Other than the doodad that creates objects, the art style, and the name Link, this could have been a trailer for a new Monster Hunter game. And the doodad is only semi-Zelda-ish; it seems to be equal parts Zelda, Okami, and Minecraft. The hands-on reports do say that it has dungeons of some sort, though there's disagreement as to how those work. Edit: I'm watching the Treehouse now, and the gameplay is much more Zelda-ish once you get into the shrines (mini-dungeons). But the items (runes) you get from them are much more useful than the typical Zelda items. You can be a lot more creative with them.
Also interesting is that the game can be played with the Pro Controller. Not surprising that there are no Wii U gimmicks, since it'll be on NX as well, but I would have expected there to be some elements implemented differently in both. For instance, object creation and placement with the touchpad or whatever analog controls the NX has.