Well Zelda is a series where they always seem to aim for bringing something new to the players with every new instalment. Of course the core concept stays the same, but every game has its unique elements that sets it apart from the others.
I mean, just look at Ocarina of Time, Majora's Mask, Wind Waker, Twilight Princess and Skyward Sword.
Ocarina of Time you could say is the base template
Majora's Mask had a unique 3 days system and an apocalyptic setting
Wind Waker brought boats and an ocean to explore rather than land
Twilight Princess allowed you to transform into a wolf
Skyward Sword brings flying and has upgradable items (there might be more things, haven't played it yet)
There's also the handhelds which have their own unique elements.
So I don't think they need to make drastic changes to appeal to a new generation at the moment. They're making enough changes to prevent the series from growing stale.
Just my opinion though