Ugh, anyone thinking twists make a good story should go read some books that tell actually meaningful stories. Events to drive a story are one thing but twists often exists only for shock value and are used just to make meaningless fluff appear interesting.
Zelda has lore and world building, but the story of all Zelda games follows the archetypal rags-to-riches line of a boy's journey to become a hero. That is the plot, and the journey is the story. The game absolutely does not need any more scripted events. Yeah, sure, twists are entertaining, but it is not a weakness to not have them. The simple story of your journey, the people you meet, and the things you do is strong enough that there is no need to ruin it with the typical anime/comic/game dribble. Heck, the story of the two kids in Kakariko alone is more mature and more elegantly told than 99% of the mega epic twisty stories of typical video games.
And if you expected a heavily narrated story from a Zelda game, you were setting yourself up for a disappointment.
(Oh, I don't consider the memories to be the story of the game. They tell the prologue of the game, but all of that has happened ages ago and have no influence on the current events. I guess it's nice to have them, but I mostly feel they are there just to have some cutscenes. They could be cut from the game without much impact. In any case, I much prefer having Zelda talk about flowers and frogs instead of some stupid "Impa is Link's mother" BS.)