It’s an untapped niche that I’d be glad to see explored more by Nintendo. I always loved Zelda 2. I often do a quick run-through of the first half of the game when I want a quick 8-bit fix. The game controls supremely well, especially if compared to a lot of its NES contemporaries.
At this point I’d rather skip another top-down classic Zelda for this. That formula has been done to death. People shit on TOTK for recycling BOTW’s overworld map, but at the same time they love A Link Between Worlds that does exactly the same with ALTTP’s map (and it’s an equally brilliant game).
The use of spells and buffs is another element that’s never been done in the same way again. Other Zelda games use items for that and the open-world Zeldas have food and potions, but it’s not the same.
Tons of games tried to copy Zelda 2. I don’t remember one succeeding 100%. That game has a blending of action, difficulty, twitchiness, platforming and exploration that it’s harder to nail down than one could think.