I think people expecting a real Open World (like Far Cry, Assassin's Creed, BotW, etc...) might be disappointed, I feel like the game will be closer to Metro Exodus or Destiny with open ended levels allowing you to go through the main mission and explore much more than a linear level, without being a truly open world.
I'm expecting something along the lines of FFXIV, with the various broken parts of the ring being the "zones" - interconnected by the stone "portals" one of which you could see at the "start" screen for the 2020 demo. I don't see how else you make it workable on an Xbox One. No idea how big the areas will be, but they haven't been shy about making them seem large - talking about flying to distant pieces of the broken ring, etc.
It's not going to have crafting or shit like that either, obviously. Maybe some equipment upgrades you can find off the beaten path.
My question is whether the world will be "wide linear" where you constantly move forward to the next zone, or if there will be missions causing you to "backtrack" to new parts of previous areas. The game has side-missions and stuff they (presumably?) would let you mop up at your leisure, which would suggest they at least let you move all around the game's overall world at will.
I could see some elements of BOTW in the game, in the specific sense that you will likely be able to get up to a lot of physics hijinks and stuff with the tools you're given to fight enemies and traverse the geography. Less in the sense that you'll be cooking steaks and collecting korok seeds, haha.