To me it does not seem very similar to a 3D platformer, but more akin to the GBA top down Zelda games. The addition of what looks like a standard jump is pretty reminiscent of the jump mechanic item you can unlock in those games, keeping the platforming pretty basic. The copy/paste ability they are showing off with the wand looks really intriguing, but from what I can tell that seems to be the only big departure from something like Link’s Awakening. Still looks interesting to me, and cool to see the ability to play as Zelda!

In what ways is it like Super Mario 64?

I feel that in my Heart and Soul.

Wow, how uplifting! Keep spreading your positivity as far as you can!