Yeah, it's practically necessary to maintain a fluid story and sequence of events. It's not like The Legend of Zelda for the NES had as many characters, story and stuff as modern Zelda games.
I guess they'll do something like the Dark World dungeons in A Link to the Past, just translated into a 3D Zelda. Still, I don't quite like all the freedom you have in A Link Between Worlds with the DW dungeons, the time between dungeon and dungeon felt empty (the only "event" was going to Ravio's shop to get the weapon you need, which I found really dull) and the difficulty progression between dungeons was very vague, which results in a way too easy game overall (ALBW was a JOKE of a Zelda game).
I... actually prefer the strict dungeon order of, say, Twilight Princess, Link's Awakening or the Oracles. However, I don't like either that most of the sidequests are implemented in the story and that few places are left to explore (excluding going back for Pieces of Heart or treasure chests only reachable by a specific weapon).
In a nutshell, I'd like to be free to go wherever I want but with a lot of hidden zones and places and a set dungeon order. Skyrim could be a good example of the open world I'd like in a Zelda game.