I'm totally on board. I could see why they wouldn't necessarily choose a character creator, but they could give us something new. Even slightly.I've said this before that I would love a female Link. I think if done right it would make a very excellent story. Or, heck yes! Maybe a character creator at the start of the game where you could choose your race and gender. But perhaps that would make it a little too much like Skyrim.
I've never thought of the spirit of the hero as a literal thing, and that the reincarnation is more like generations of heroes (not necessarily related by blood) possessing similar qualities, falling into similar circumstances, and accomplishing their goals in similar ways.