I really enjoyed the ability to become Wolf Link in TP, although I had to warm up to the idea at first, but I don't think we need it again.
While there's a lot of familiarity in Zelda titles, and repetition of events and tasks, the wolf transformation was more of a one-time gimmick. There needed to be something to give to Link as a new ability for this game. We had time travel in OoT, mask transformations in MM, the sailing aspect in WW to name a few.
I can see where a transformation of Link would happen again, but specifically to a wolf might seem redundant.
I often wonder if this is why PH is not as regarded among fans since there wasn't much of a new mechanic introduced. The sailing was something we'd seen before in WW, and the use of the Hourglass itself wasn't enough of a use. So I suppose the gimmick for PH was the stylus control, and since it wasn't an in-game-world gimmick, it fell flat with some.
I think this would happen again if we were to have the Wolf transformation return. if they were able to really ramp up another gimmick at the same time, then it might be acceptable, but just to have this exact same one return would be a bit of a cop-out, and might not sit well with people.