Link being made into a woman meant to me... (Shrug...whatever I'm still not buying a Nintendo Pronoun...I mean Wii U.)
I personally would rather they would with the same option Castlevania did, and simply change the lead character. Castlevania originally had the Belmont clan as the leads for many of the games. At some point they wanted do more and not be limited to same trademark moves and arsenal they are known for. They brought in various other vampire hunters of different breeds. One of my favorite is Shanoa, which yes we got a female lead, but her character was amazingly fun play as. Due to her own new mythos, she wasn't stuck in the typical whip, holy water, cross, axe, dagger line up. Her being fun and cool to play as was what made the game great...her being a female was fine but I didn't buy the game because of some social justice. If that happens to be a positive side effect of the game, great..but it shouldn't be anyone's focus or you're here for wrong reason.
The Megaman series introduced more characters in a similar manner with the X series. Megaman basic gameplay got kinda stiff over the years, and the X series allowed it to evolve greatly. We got Axel and Zero allowing for more gameplay options. In X 8 we got basically gender swapped versions of the cast, as they let you play as all 3 girl navigators, Alia, Pallete, and Layer. (Capcom had girl Megaman for a long time though with Roll.)It didn't shatter the world but it happened already. Command Mission added 2 more playable females with Cinnamon(Nurse bot) and Marino(ninja thief girl).
They continued spice it up with the ZX series, and made two playable characters for each of the games, making one male, and one female. (give minor bonuses for each.)They were unique characters in their own rights, as Ashe has a very different backstory as she is a human raider than Grey who is a reploid who wakes up in a lab. They took the idea of Axel's copy abilities to next level, which they turn into the enemy bosses, down to their gender. At which point whatever character you are playing as copies the hero of the previous games form, which will be the opposite sex. (Grey copies Aile's form and Ashe copies Vent) Again all kinda of weird gender swapper happening here, but the world didn't seem to notice. (granted Capcom been doing the whole gender swap stuff since Dark Stalkers, as Demitri, who uses a special that turns male characters into girls before he ravages them with Midnight Pleasure. And then the whole Poison final fight deal...)
Adding additional characters to Zelda series might be a healthy choice, as Link has used mostly same core weapons for many many games now. Granted they try and spice it up with oddities like Majora's mask and Twilight princess where Link becomes a wolf. Going and making a game focusing on Zelda/Sheik could be a nice change of pace. I think that would be a bigger step in the right direction and having the series evolve than simply putting a minor reskin on Link. Zelda's move set could go in directions link's never could. I think that would be a bigger deal than making link a girl for this version of Ocarina of Time.