Is "playing as Zelda" some sort of ideology-based demand coming out from the typical batshit crazies? Or is this something gamers have actually been asking for? I can't tell anymore.
A gender option was heavily discussed when BoTW came out. Male Zelda and a female Link, as an option in character creation. I think that could make sense, along with being able to pick skin color, hairstyle and bodytype. Legend of Zelda is a never ending propercy of someone becoming the Hero of the Land and be named as "Link". But the player character has always been able to pick his name. For this reason, I think it makes sense to give that sort of character customization in a Zelda game. Not for the sake of inclusion, but because it actually makes a lot of sense to have that freedom.
Secondly, I think Zeldas big problem is a lack of customization and RPG depths. BoTW is an incredible game, and its approach to crafting is amazing, but the game lacks a real challenge with combat, choices and specializations. I think the game could have more self expression, and character creator customization makes sense.
Adventure Time had this really cool genderbend episode that swapped gender and species on the main characters, and it was really fun. Link def will work as a female. The bigger concern I have is if Nintendo can actually up their storytelling. BoTW looks like a Hayao Miyazaki game, but the storytelling is not really there, and its a shame. Zelda was never really about story, but the story was a lot more impressive in the N64 days, and I think that today we have much higher expectations of stories in games, even if the games aren't story heavy. Zelda can do a lot better telling a simple loose story.
So if they struggle and stumble so much with something linear and non customizeable as BoTW, I have doubts they could do it better with a story that allow you to swap the genders of Link and Zelda. But maybe.