^ Put that speculation to bed, as the director confirmed it is male Link. I don't mind the design. Link has always been a male character to me but he's also pretty androgynous. He's also a reincarnated character that pops up in multiple timelines and different ages, with the lore stating that a 'hero' will save Hyrule, so I would have welcomed it the gender was swapped after all. The way it is here, the character design, while confirmed as male Link, looks more gender-ambiguous than ever. Link will be able to be seen as anything according to one's subjective perception.
Though I did also like the idea for a while there of it being a second playable character, possibly Zelda, for co-op gameplay. An open world game isn't necessarily the only way to shake up Zelda conventions.