If it was a spin-off and nothing more, I think it'd be interesting to see what they could do. As long as it still stayed somewhat Zelda-ish, and they added more items stuff to do. I haven't played Link's Crossbow Training, so I don't know if it's any good. It looks fun, so I've been wanting to try it out.
But only if it was a spin-off, and didn't get in the way of the progress of the next real Zelda. As long as the real games stay true to what Zelda should be like, then I don't really care what they do with spin-offs. As a matter of fact,, if it was a spin-off, I wouldn't really care if they made a futuristic game. That's right, with guns, air crafts, etc. Now don't burn me at the stake for saying that. I'd never want that to happen to the real Zelda games, since it would ruin the series. But like I said, I don't really care what Nintendo does with spin-offs.
So yes, if was a spin-off, I wouldn't care if it was an FPS, FPA, or whatever the heck you want to call it.