Just because it's fantasy doesn't give you an easy out to ignore continuity to improve "representation". As though not playing as a character that looks exactly like you means that you can't relate to them in any way. Link is a legacy character. For further reading,
TV Tropes. To be recognized as the character, certain aspects must stay the same. All of the Links have been very similar. They're all left-handed, male Hylian youths that are tougher than they look, and have strange taste in clothing. Minor aspects change - Sometimes Link is a smith's apprentice, sometimes he was raised by the
Lost Boys the Kokiri, and sometimes he's just the nephew of a guy who owns a sword. Yet aside from minor background differences, and the occasional hair dye, Link has always been more or less the same bishie he is today.
PS - I don't think female representation is as big a problem as some might have you believe. My main game shelf is sitting to the left of me, and almost every game on it that features human characters has a female that is either A) Playable, B) Important to the plot, or C) Does really cool stuff.
PPS - I do feel that Zelda needs a reboot, but that's mainly because Nintendo has done some really stupid things with the lore recently. It started with Four Swords on GBA and the worst example yet is SS. Declare Ocarina as the only canon game and set some unbreakable ground rules for the rest of the series.
PPPS - Stop replying while I'm typing, everybody! @
Carrill
Didn't Marvel just do a reboot in the last couple of years? That's not the same Ms. Marvel as the old universe, it's a completely different character in a completely different universe. Forgive my ignorance on comic books, but has that fundamentally changed the character? If so, was it for the better? Or was it just a marketing move so Marvel can say, "Hey, look at us! We're progressive and stuff!"
This theory is long and detailed, and you may not agree with all of it. That said, many of the arguments against Hero Zelda use a variation on this, or at least touch on several of the same points. Actually, this theory was invented to explain something completely different, so it'll sound off-topic, but it works in this context too. Just give it a minute to get to the relevant part. It's also been partially
Jossed by Skyward Sword, but I generally try to pretend that Skyward Sword was a bad dream, and that the real Zelda Wii game was cancelled due to unspecified development issues. Just take what bits you find relevant and try to rework them into another theory, if you want.
All wielders of the Triforce have been chosen by the Golden Goddesses to possess their particular piece. When Ganondorf laid hands on the Triforce, it split itself into three pieces, that of Power, Wisdom, and Courage. Because the one who attempted to claim the Triforce had his heart out of balance, he couldn't claim the whole, and the remaining pieces went to those who embodied these virtues the most. The spirit of Zelda, the wise ruler, has dominion over the Triforce of Wisdom. The spirit of Link, the courageous hero, has dominion over the Triforce of Courage. How does Ganondorf fit into all this? He seems the odd man out, at first glance. A closer look reveals he's not. The spirit of Ganon, the powerful destroyer, was also chosen. How many others, since the beginnings of the Hylian race, have searched for the power of the gods and found nothing? There is no mention of them in Ocarina, but there had to have been quite a lot of them. Only Ganon had the drive to obtain that power at all costs. The Triforce has been used by the Goddesses to keep Hyrule's legacy alive. When its temples have become forgotten, its treasures locked away in chests and caves, and its history has become nothing but half-fantasy children's tales and rumors, the powerful spirit of destruction ravages the land, which causes the courageous spirit of the hero to awaken. The hero finds the treasure, rediscovers the history, and makes the places of worship fit for ordinary citizens. Though Hyrule has been saved from the evil, it's still in a poor state. Pillaging monsters tend to wreck the place a little. To and lead the reconstruction, the wise ruler could use a little extra help from the gods to make sure everything goes swiftly and smoothly. Once that's done, Hyrule needs to return to peace and order quickly, to enjoy its next Golden Age as long as possible, before the cycle repeats itself again. The ruler is tasked with strengthening and prolonging this golden age, once the fighting has been done.
TL;DR: Zelda has been assigned to a non-combat role by her goddesses. Just as Ganondorf can't ever team up with Link, and Link can't ever murder a village for funsies, Zelda can't be the hero of Hyrule. If one monster is a challenge for most ordinary people (i.e. - Peasants that do hard labor), or even Hylian soldiers, how could a soft aristocrat hope to stand a chance? Link can do it because he gets divine help.