Looking at those concept arts. . .high school Link is so hilariously 80's. If we were at any risk of it actually happening I might be worried, but since even they seem to realize how insane it was I feel comfortable just letting myself enjoy the cheese and chuckling.
The alien invasion on the other hand. . .that seems to be getting a general reception from people of "weird, but that actually might be kind of cool." I'm kind of inclined to agree, actually, although how hilarious that manga page looks might be part of what won me over on the scrapped concept. I imagine Murasame Castle fans would be madder than an Ura in a Fire Emblem convention if it somehow actually happened, though, LOL.