Personally, barren overworlds are lamezorz no matter who is making the game though I suppose that's the nature of an open world. I didn't like vast areas of nothing in Ocarina of Time and especially in Twilight Princess. This overworld looks exponentially larger than even Wind Waker's Great Sea so that may be a problem. The part in the video where Aonuma said their destination was still like four or five minutes away was disconcerting if the world is, in fact, devoid of much interaction. I'd prefer a smaller world if I'm not going to be doing much in it.
The fog could be plot-related like how the Lost Woods in A Link to the Past is foggy until you claim the Master Sword. Similarly, the invitingly named Swamp of Evil is all rainy until you complete the dungeon, Misery Mire.
Anyway, I'm surprised Nintendo appears this confident that both Star Fox and Zelda will release next year, particularly since Star Fox was more tech demo than game when first unveiled at E3 less than six months ago. I remain skeptical though admittedly less so now considering Nintendo is typically coy with release windows.