No, the thing with Ocarina is that it was 3D and that simply blew us all away, the graphics themselves took a second stand, the game lacks some sort of art direction like Majora's Mask, the Wind Waker or even the handheld games like the Minish Cap, by any standards is pretty generic, but the added dimension was impressive enough to make the game outstanding.
The way I see it, most people think that doing OoT clone would be enough, but it simply isnt, the impression Ocarina made was so strong that I can understand what Ian and Smash Brother think, but if Nintendo wouldve just made Zelda with this "realistic" style for GC you wouldve end up dissapointed, because what made Ocarina so big wasnt the generic fantasy "realistic" lack of art direction, was the innovation in bringing a 3D world to life, and having the Wind Waker in realistic graphics wouldnt have the slightest chance to achieve the same effect. Theres a reason why we are geting a wolf and Midna and crazy cellshaded world and god knows what other new things for Twilight Princess.