I think Zelda would work better as a movie franchise, perhaps that was what Nintendo was trying to do here, leverage a TV deal with Netflix to get someone to bite on using it as a movie IP.
The thing that happened though is the Netflix talks got leaked.
Though I don't doubt Nintendo had discussions with Netflix, if they didn't Netflix would've just flat out denied the story, I think the thing was Nintendo was negotiating with different vendors for a Zelda TV or movie deal and Netflix was one of vendors Nintendo approached (or were approached by). But they may be looking at other options too, like a movie series.
The budget you'd have to have for a Zelda TV series would have to be close to Game of Thrones too, maybe if moreso to be honest ... Zelda is more fantastical whereas GoT obviously draws more heavily on European mideval history. Was Netflix willing to spend that?
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