I don't know if everyone else loves them, but at least I am being in the minority here when I say I hate waypoint icons. I can tolerate them when you created them yourself and when it makes sense to have them in the gameworld (The Division and MGS5 for instance), but often in open world games you accept a quest and it automatically creates the waypoint. It's lazy all around. Lazy design and makes the player lazy. Why even read what the quest is about? Just skip skip, accept and follow the icon. I've seen them in recent Horizon Zero Dawn footage as well and made me cringe.
Some games do give you the option to hide it, but then you are looking for a needle in a haystack since the world isn't designed around those UI elements. From Software does not use them in their games and I haven't seen them in the new Zelda either. In those games you really have to take in the world and explore and makes for a far more rewarding gameplay experience.