Honestly, the only way I can imagine it having been good would be if they used it as an excuse to deepen lore and didn't try to do anything with Link.
Link does not have a character. He barely has a voice. If they tried to make him a character he'd flop because everyone would hate him because he wouldn't be what they imagined Link to be.
On that note they probably should also stay away from Zelda and Gannon too, and at that point, why even use the Zelda IP?
It's entirely possible to use the IP without touching on the main characters, as there's lots of lore and other characters and stories they could explore to expand the world and shed light on cultures and events that we only ever heard about or tangentially experienced. The big name characters could be referenced, or even have short cameos to simply make the connection, but the world IS larger than just Link, Zelda and Ganon and has other races and cultures and characters besides Hyrulian.
Why would you waste money on an IP and then not use the only widely recognizable elements of it? Dude in green tights, pig-ish monster and blonde princes are pretty much the most recognizable parts about the series, besides some items (because games). I'd argue that there is barely any benefit to use the IP in the first place to tell a fantasy story, let alone one where you abandon the most recognizable elements of the franchise.
You are welcome, Metzen. I hope you won't fuck up my underground expansion idea.
This is old news, none if it really credible.
True. I suppose I should clarify that I meant that I'd prefer an animated Zelda over live action. I'm not sure the world really lends itself to a series or movie at all though but if I had to pick; I'd go with animation.
Though in many of the games, while Link doesn't have any lines, it is implied that he's speaking to the npc character (otherwise it would be impossible for the npc to answer a question Link clearly asks without being telepathic). It would be very difficult though since I imagine everyone would get angry if link doesn't sound exactly how they themselves imagined he would. I think the only way around that would be for it to be yet another incarnation of link rather than attempting to retell, for example, Ocarina of Time.