Ocarina of Time gets the accolades because it was the first 3D game that let you do what you wanted. Sure Mario 64 was great, but Zelda appealed to a wider range of people because it was for kids (Kokiri Forest) and adults (Bottom of the Well). It's just like black and white films such as Casablanca and Citizen Kane; they're held in a higher regard because they are the first of their kind.
And sure we'd visited many places like this with A Link to the Past, it's just Ocarina was the first of it's kind. In a way, it was a Mass Effect or Red Dead Redemption because it realized a place that could slowly be unraveled and explored; while simultaneously keeping the same framework that made people love Zelda on the NES and SNES.
When something invents itself in a way that has never been done, that's the label it will be stuck with it forever.
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