I don't like the realistic look because of how poorly it ages. Look at every "realistic" game made prior to this generation (and even quite a few within this one). By today's standards they look ugly and deformed, and within 10 years or so it'll be really hard for new players to get into them because they keep thinking "...and they thought this garbage looked GOOD?" Whereas the more fantastical styles don't have that problem; WW and SS, for example, have a timeless quality to them, and they'll always look good no matter how many years down the line they go because they eschewed realism for fantasy.
I also don't think realism really works for Zelda. I always like the more fantastical elements in games, and realism detracts from that. When I play GTA, I'm not thinking "Wow, this city is incredibly detailed, and I can see the amount of work the designers put into it"; I'm thinking "Holy crap I just rammed a train into that bus and sent it flying half a mile away. Next I'm gonna spawn me a tank and ramp it off of the Empire State Building because screw it." When I eventually get around to playing Bioshock Infinite, I'm not gonna be drawn in by the polygon counts or the realistic facial textures, I'm gonna be riding on skytrams and blasting Victorian-style hooligans with my psychic powers. I like to do things I can't normally do IRL, is what I'm saying. And as BlueReptile pointed out, they are squandering the limitless potential for imagination and creativity by making a subpar image of reality.