The Zelda team has made other games within those 5 years. They made A Link Between Worlds and Triforce Heroes.
There's a reason why we don't see many other developers make Zelda-type games on consoles. They really are time consuming and cost a lot to make. Expecting multiple console Zelda games in a single generation would be like expecting multiple 3D GTA games in a single generation. It is possible but almost unlikely. This is a major reason why first person shooters became a norm in the industry. Not only do they sell and appeal to a wide variety of people, but they're also far easier to make. There's a lot less to deal with. No camera controls and angles, fewer animations. The overall game design isn't as complex either.
I can now see why Shigeru Minamoto had originally wanted Ocarina of Time to be played from a first person perspective. I think even back then, he understood hot complicated future development on Zelda games would be.
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