My personal opinion is I think Nintendo saw money from Mario and rushed this.

Zelda has ore depth then Mario, so a feature film isn't long enough to tell the story I don't think. Unless they think they aiming for a trilogy or something.

They should have gone down the last of us route with it and do it as TV series. Whether live action or animated that is another debate.

Provided it's much more like his darker works like Samurai Jack or Primal, just not rated R.

Agreed.

PREDICTION.

This will end up like the Metroid Movie from John Woo.

Vaporware as it will enter development hell and never come out.

Doubt it. 

Miyamoto is working on it personally, it has Nintendo's money being put into it. They're not going to spend and not have a movie to show for it. 

Movies are going to become I think in a lot of ways Nintendo's actual hook for audience growth in the next 10-15 years, not hardware gimmicks. 

Look at how the MCU turned brands like the Avengers into huge properties, and even took smaller scale IP like Iron Man, Black Panther, etc. and made them huge global brands. 

This is core to Nintendo's future business plan. They will use the movies to skyrocket their character awareness and use that to drive their game business. They basically say exactly that in their investor's brief just a day ago, the Mario movie caused a big surge in Mario game sales (not just the new Mario Wonder either but older titles) and the Mario movie was able to successfully release and be popular in regions where Nintendo doesn't even sell their games. 

The movie business is going to become central to Nintendo. This is not just a "hey lets try and make a Zelda movie for fun". This movie is probably more important to Nintendo than any one game they are working on (well maybe outside the next Mario Kart). 

Again a Nintendo movie was canceled before and not like Miyamoto or Nintendo games with a ton of money sunk into them hasn't been canned before...multiple times.

I still say animated would be the better decision than live-action because of how much more expensive it would be in live-action, making it a much bigger risk, and because unless they go with the Twilight Princess aesthetic a lot of monsters wouldn't transition to live-action as well.

I’ve wanted a Zelda movie ever since that IGN April Fools trailer, but now that it’s here, I’m afraid it will be really generic and unspecial.

At least that useless twat face Uwe Boll isn't involved.

My expectations are low for this project...

Same, especially after Nintendo's most notable live-action movie (not counting Detective Pikachu), which thankfully has been replaced by a way better animated outing as of this past April.