They made some improvements to Zelda, yes, but they also made it so that she takes a good deal more skill. Her primary means of killing are her non-neutral aerials, and all of these are harder to hit with than their melee version. She does have some powerful ground moves that can kill (Fsmash, Usmash, Utilt, Ftilt at medium-high %'s) and at 150ish%, you can Din's Fire people off of the top, but your under 100% kills are only going to come from Sweetspotted Lightning Kicks, Dair Sweetspot Spikes (THUNDER SPIKE!), or Uair starkills (faster than melee, but less horizontal range and a lot more knockback, but still difficult to use).
I think her main sticking point is going to be the lack of a "sex-kick" or other all-purpose aerial. Her directional aerials are all great (but difficult to use) finisher, and her neutral is an OK multi-hit, but there's nothing that can be used to rack up damage, combo, and knock the opponent a little off the stage, setting up for a kill. At least, aerial-wise.
This is going to make her a very skill-intensive character. If you're planning on maining her, plan on devoting a lot of time to getting her down correctly.