Have you played a link to the past, or another Zelda game? They pretty much work like this, but without the randomness. Each dungeon is designed around giving you a specific new item/tool, and all your progress is defined by your items. Sometimes you get a bit of choice in the order that you do the dungeons, which makes them harder/easier as you might not have the optimal tools. Other times the games are much more linear...
Yes, you are right. What I'm thinking of is probably a similar implementation as the Zelda game, except for one huge difference.
The Zelda series was based upon following linear dungeons for story progress and while you can sometimes choose optional dungeons, on the whole the game forces you to specific area's and dungeons.
Mine will be about randomized dungeons specifically, with no colleration to any sort of real "world" neither being specifically about a story either. So while The Zelda series does have similarities to what I'm envisioning, its being brought to a different concept.