I thought the Tornado Rod was quite cool. You could say it's ALBW's RF/RC, but in terms of implementation, they're very different. Tornado Rod does provide means for vertical evasion, but in the context of a game clearly not built to allow actual, consistent jumping; and it also serves the purpose of stunning enemies with a 360 degree area of effect attack. I actually wouldn't characterize it at all the way you did. It has a fully realized design of its own. I love the animation, too: a gust of wind so powerful that it lifts Link into the sky is generated, stunning all the enemies around him - awesome.
I do think ALBW could have benefited from more new items, but still, I was very impressed by how useful almost all the items were. Going from dungeon to dungeon and exploring the world without an exact sense of what collection of items you should have, and just trying out a variety of them, was very satisfying. They're mostly all very powerful, with smart individual quirks, and the game does a great job presenting consistent opportunities for most to shine (which means enemy design, dungeon design, leveraging the 3D, etc. etc.). The one exception is the Boomerang, which mostly sat rotting in my inventory. I never found a strong use for it.
So while I don't totally disagree with you, I found the items to be a strong point overall. And that's partly because they benefited from strong execution of the, "At any point, you can approach this or that with almost any variety of items in your inventory" concept. Really, it's on the items front that I felt the non-linear design proved itself most.