I don't see any harm in digital rereleases and the occasional remastering of a past classic or a character making an appearance in something like Smash Brothers. And Zelda spinoffs have been few and far between. Throughout the life of the franchise, I can only think of a Game & Watch release (Later simulated many years later on one of the Game Boy collections), Link's Crossbow Training, two Four Swords releases, and of course this upcoming game.
Like I said, we've only gotten seven main Zelda releases in the 21st century. Wind Waker on the GameCube, Twilight Princess on the GCN/Wii, Skyward Sword on the Wii, Minish Cap on the GBA, Phantom Hourglass & Spirit Tracks on the DS, and a Link Between Worlds on the 3DS. Not exactly milking it to death in 13 years. And since Zelda U is all but assured of not releasing this year, that will mean that we've averaged two years between main Zelda entries across both their console & handheld lines when 2014 concludes.