Not pushing the envelope in graphics tech sure, but TotK is more ambitious in sheer player creativity than just about anything else released this year. I haven't played BG3 yet, but they both scored right at the same level, and for very similar reasons (player choice!). The stuff you can do in ToTK is amazing, and it was extremely polished. So yeah, Nintendo pushes it where it counts. When it wants to anyway.
TotK remains the only game ever, where I've overheard people talking about how they approached different parts of it, or solved different problems out in the general public. It's the only game where I've had co-workers, both men and women openly tell me they are playing it and how much they love it (without knowing I even play the stuff). The game is a hit for a reason. Trying to pass it off as some kind of nostalgia trip is simply not accurate. As much as trying to pass off FF16 as a nostalgia play. Also, not accurate.