The Zora evolution would be fasinating to watch. I think it would look the charas in Baten Kaitos sprouting wings before a boss fight, the Zoras would float in the air, feathers would start flowing off their bodies, their sharp noses would become beaks, and their fins would metamorphasise into wings.
I think Laruto would instruct the Zora in this transphormation, while she alone retains her true shape. She would have a daughter, who should look like Medli.
I personally think this will be set after WW, or be a direct sequal to
OoT. Nintendo do like changing their minds. I don't think such a big battle would be set so soon after
OoT. The gap between each Zelda is usually a few centuries.