I really hope so, but I'm not so sure they'll manage it. I mean, I think BotW 2 will be good no matter what; it's hard for me to imagine a way in which they'd fuck it up, but creating a sequel that measures up to what MM was to OoT is a mighty high order.
What really stood out about MM for me was its NPCs/quests and how creepy and quirky and outright dark its story and world got. These are both areas I think base BotW is majorly lacking in, so adding those aspects to BotW 2 would be absolutely amazing and a huge positive in my book. I really, really want them to! But I find myself hesitant to hold my breath about it.
In the case of the NPCs and their questlines, most games have a hard time creating good NPC stories and subsequent quests imo. Their stories are almost always shallow filler fetch quests, and nearly every quest in BotW was exactly that. MM had a really unique setup with its time looping, though, that allowed each NPC and quest to have multiple factors and outcomes, and it added a lot of depth and story to them. They were also extremely involved and, despite being side quests, some of them felt just as meaningful as the main story. I only played MM for the first time a couple years ago, but Kafei and Anju's questline is probably the best sidequest I've ever experienced in a game. Since I assume BotW 2 isn't going to incorporate time loops, it's not going to have that setup there to benefit its quest stories, and I just have a hard time feeling confident BotW 2 will have sidequests anywhere near as good based off of the base game and how rare it is for any games in general to do them well. I do expect a little bit of a improvement in this area (I predict BotW 2 in general will be much more story heavy, so I think the quests will be overall at least a little better, as well), but I really doubt they'll be anywhere as great as MM's.
And then, in the case of MM's amazing creepy factor, I find it difficult to imagine BotW 2 reaching even close to those levels of weird simply because BotW 1 was just so vanilla. There's very, very little especially spooky or dark about it beyond the Champions already having been dead. OoT, in comparison, had some really creepy and/or unnerving stuff in it to begin with, and MM just took that, ran with it, and dialed it up to 11. Based on the trailer, I do get the impression BotW 2 will be darker than 1 at least, but I can't imagine they'll veer too far from what the first game was like. I don't think they'll want to alienate their audience too much.
So I don't know... I really hope for these things. I'd fucking love BotW 2 to be as great as MM, cuz I think BotW has a lot of the same problems that OoT had, but... I'm not holding my breath. I'm just betting on a fun, good game, and hoping for better dungeons and more story. If they can do all that and also vastly improve on their NPC quests and hike the creepy up to 11 again, though, oh boy will I be in gd LoZ heaven. 🙏