You're looking at a game series, that was so hyped up and important to Nintendo, that they changed plans for it. When Twilight Princess was first announced, it was said it was going to be for the Gamecube. Since, Nintendo knew it was going to be so big and hyped, they made the first release for the Wii. This would help increase/max out Wii sales.
Another thing, to realize, Nintendo takes their sweet time developing Zelda games. They want to keep up a good reputation and don't want to throw out some bad game, just to make a few extra dollars. Zelds is one of Nintendo's longest series, also Zelda is one of the longest series in all of the gaming industry. My final point is, that Zelda has been around a long time, and as long as it keeps making a lot of money, it'll continue to be around.
My only worry is, when Miyamoto retires. Then what will Nintendo do? I hope that doesn't come in my life time, but doubtful since I'm fairly younger then Miyamoto. Hopefully, that won't happen anytime soon.
It might be the last GOOD Zelda game, if Miyamoto dies after it's released or something. After that, we might end up with nothing but cheap Zelda-themed knockoffs to entice fans. Kind of like what happened to the Final Fantasy series (for instance, I had more fun creating gardens in FF:CB than I did playing the game).
In other words, it's far more likely that Zelda will go so far downhill that you'll WISH it had ended rather than abasing itself to rake in whatever it can for Nintendo. Of course, at that point, it's likely the Zelda series would end due to Nintendo going out of business. That's the main way that I see it ending.
But I don't really see that happening just yet. A lot of the Zelda games released since TP have been rather gimmicky, but I don't think they're giving the series over to gimmicks completely yet.
My opinion is the same as Ver-go-a-go-go. It's just like the SSB series: If it brings it multi-millions of dollars, answer me this: What would be the bloody point of ending it? Yes, Zelda is not the most popular of Nintendo's franchises, but it's certainly safer (legally) than EarthBound, more challenging than Pokemon, and more adventurely than Mario.
I don't think Nintendo would end Zelda here. Like a lot of other people here have said, ending Zelda is about as likely as ending Mario or Metroid. Still, the term 'last Zelda' could mean the last one in chronological order, but I also highly doubt that. Now it could be the 'last Zelda' in a story arc or something. Seeing the ever-so-elusive "Zelda III" would be pretty awesome in this game, and that would answer the 'Master sword-less Link' mystery. You know, Magical sword, NOT Master Sword, get it?
Nintendo really has no reason to pull the plug on the Zelda series. They're making loads of money on the games and have maintained a huge loyal fanbase for 20-some years. Like Mario, or Metroid, or Pokemon, Zelda is not going to end until it loses so much of its charm that the fanbase rebels. And let's face it, the only time the Zelda fanbase as a whole ever looked down on the series was with the CD-i games, and those are shunned by Nintendo itself. The series isn't going anywhere unless something catastrophic happens to the company or the creators.
The Legend of Zelda is one of the most beloved and most successful series (both critically and sales-wise) in video game history (today we could say even MORE then Mario!). Even Mircosoft and Sony fans are interested by the series and have respect from anyone (thought some people are turned off by the easier and shorter game of the recent years). The series also makes it to multiple top 10 list (being either Most Wanted Game, Most Anticipated Game of E3, Best Game, Best Music, you name it. even being cut off some of these list because the choice would be too predictable). A mere glance of an artwork can get excited and a surprise trailer can make a room filled with professional reporters explodes with joy and excitement (E3 2004).
In other word, Zelda Wii being the last Zelda game? Not. Gonna. Happen.
if nintendo do get rid of zelda, then us zelda fans will unite our power to force nintendo to make another zelda game! for link!, for zelda! for hyrule!, for din!, farore! and nayru! we shall unite the triforce and send so many angry emails to make thier spines cripple in thier chairs reading them!!!!!
You know what i think?
I think Zelda would never stop until Aonuma and Miyamoto dies...so lets hope they would live very long.
Even if Nintendo would continue without Aonuma and Miyamoto, lets just hope they would pull off a very good job...Aonuma and Miyamoto is the mastermind behind these games after all.
Definitely not the last game, Zelda still has a long ways to go. Besides, what mojor gaming company would end one of their longest standing games after releasing so many diverse adventures? You would have to be crazy not to see the future potential of a game like this, in our day and age Link embodies the classic hero. When we are all gone Zelda games will probably still be made, new adventures that I will never get to play. But i dont doubt for a second that Zelda will continue on for hundreds of years. Hopefully...
If anything this will be the last Zelda game released on the Wii. Each console only seems to get 2 3D Zelda games anyway.
The Legend of Zelda will never die. It has the best video game music, great storylines, and the strongest relic in the known universe, the Triforce. Try saying that the LoZ will come to an end and it just doesn't sound right. If Zelda dies, I die and I would hope some of you guys would come to my funeral. If this is by some chance the last Zelda game, then I will erect a memorial in my backyard in tribute to the series.