The question is: does it need to? Handhelds are becoming so powerful that series dont "need" to be on home consoles unless they are large open worlds or spectacles.
Would i like to see one? As you can gues by my avatar, they were my favorite ones. I would like to see more, but i dont need to.
How could it work? With better presentation. The thing is i'm not sure it would be very profitable.
But... Fire embem warriors definitly needs to happen. Lots of FE characters and stories to draw from. Its a much better fit than Zelda was.