AW is a bigger property and test for them. If they do well with it, I think a new game will be greenlit. 

Grezzo made a lot of Zelda games, but not all games are equal. Ocarina of Time 3D (which was more a remaster). That sold over 6 million. They ported Four Swords Anniversary and I can't find data on how that one did, but it was a port. They then did another remaster with MM and that sold over 3 million. They then made their first new Zelda game, but they were only co developers with EPD and it was just a multiplayer, very basic game, Triforce Heroes, which sold over a million. Then they got to actually remake a full game for the first time (not a remaster and not some super simple game like Triforce Heroes), but a full game in a brand new engine/art style, Links Awakening NS, and it has sold over 5 million copies so far.

They've done other ports like Luigi's Mansion 1 and Miitopia where they mainly just remastered them, but LA Switch is, I believe, the evidence Nintendo needed that they could handle making a brand new Zelda game. Also, the fact they they ported Miitopia over tells me they are working on a big game. Miitopia helped them gain a little cash flow with an easy port while most of their team has been working on a big new game. Granted, that's me reading between the lines and I could be wrong, but I predict a new Zelda game in the LA Switch engine from Grezzo within the next two years.

Ooooh, I hope you are right. I would LOVE an original top-down Zelda by Grezzo! 

As disappointing as delays are, and I will be sad if/when BoTW2 gets delayed to 2023, I feel like even if it was fully ready for release, it would not get the attention it needs to be successful because of all the holiday games. I look forward to eventually trying this series out for the first time when it does come out next year!