They did Hyrule Warriors which seemed moderately successful and I don't think that hardcore Zelda fans consider the series tarnished or anything like that despite being a vast departure from Zelda games...
Why not try a Metroid Halo-like spinoff? I know Metroid Prime has been a successful FPS and personally if I would be happy enough if I heard they were making multiplayer similar to Prime Hunters for the Wii U, but a Metroid Prime sequel would not really occupy the same niche as the "military shooters" the OP alludes to, unless it had a major change in ethos (which in turn would piss off existing Metroid fans). But aim the game clearly as a spinoff (or even crossover? "Metroid Of Honour"?) and it could be designed to appeal more to the COD tastes (without being a complete rip off) without betraying the franchise. This would work especially well if they also made a traditional / mainline Metroid game (the same way Hyrule Warriors did not replace Zelda U), and it would even free up options to focus on different elements (platformer, exploration, action adventure, whatever) that the series is known for without worrying too much about filling the FPS niche.
Of course I realise that is a pipe dream, and even if it wasn't it may not actually make business sense since the Metroid brand might actually reduce sales compared to a similar shooter that's a new IP (since Metroid is not a huge selling franchise). But it's interesting to think about the different possibilities.