Well, the overhead view of the majority of 2D Zelda Titles allows the new control scheme to work better than Super Mario 64 would with it's third person perspective.
In addition to that, it seems like Mario uses a lot more moves, or at least has immediate access to a lot more moves, than Link has ever had. Traditionally, it seems like the "A" = sword, "B" = equipped item has been the way to go with Link, especially with the 2D Zeldas, even though there were a few extra possible button options. With this, once again, Zelda games seem to be a good candidate for this style of play interface compared to the Mario Platformers.
If this were to be a Zelda in the third person, then I would disagree with the play style as well, but it isn't, so I am intrigued.