Remember, they posted this on April 1st, so I wouldn't take it too serious. But again, Gmail was first published on this day 4 years ago, and it's still going.
Apr 06 2008: IGN has posted an editorial about the movie, and they have claimed that the trailer is a joke, but they explore the posibility to actually work on a real movie. Here's a interesting section:
"By Hollywood standards, the nearly-three-minute spot was made for peanuts, but a real Zelda movie would, of course, need to be supported by an equally epic budget. Nintendo's franchise is filled with huge locales, menacing monsters, and the potential for some seriously eye-popping special effects and choreography were it all re-imagined for the silver screen. To make that happen, any Hollywood takers would need to throw down not just tens of millions, but hundreds of millions."