You have to realize what it was like to be following the news at the time. People were desperate for any information or footage of what the Gamecube Zelda would look like after that brief
tech demo video at Spaceworld 2000. Then a year later at Spaceworld 2001 they showed
this trailer that had acompletely different art style, with a focus on conveying "cartoony" emotions - a moblin jumping around on one foot after being poked in the back by Link's sword, Link himself going wide eyed at fireflies around him, and then the wink at the end, which almost felt like Nintendo admitting they had pulled the wool over your eyes.
I had initial outrage at what I perceived was a bait and switch but came to love Wind Waker's art style over the course of development and really enjoyed the game.