I hope if Nintendo does it looks somewhat cartoony like it does now. It's the look that works.
Now if they released a game with that running around stomping on 1080p turtles we have a problem, A BIG PROBLEM. Although the guy who made it is pretty talented.
EDIT: Lmfao, this reminds of the Banjo redesign in the Banjo Threeie trailer. Dunno why, it does.