Thanks! I have heard it. I am honestly unsure of what to think of it, considering that despite the information coming from a relatively reliable source, Nintendo has not corroborated. So at the moment, nobody even knows if it's going to happen for real, or if this is all just an elaborate prank like the one IGN pulled a few years back.
If it is real, I am greeting it with equal parts trepidation and excitement. This could either go really, really well, or it could destroy TV/Movie Zelda for a long time. Netflix has a few fantastic shows for their name, and if they got the right writer and gave Nintendo lots of creative control, it could go well.
The problem comes with the fact that Zelda characters, story-lines, and worlds have been designed around thoughts of game-play and video game storytelling, which is significantly different from screenwriting (as anyone who has attempted to write for video games, fiction, and screen scripts could tell you). Everything is much more concise in video game scripts, so there is a lot that is left unsaid or up for interpretation. You can also state things outright in video game scripts, whereas with screenplay you have to manipulate words more--'show, don't tell' so to speak. Even then, I'm ommitting the fact that a TV series would be a serialized story, whereas video games shove it down the player/viewer's throat in one shot. If they try to recreate a game or attempt an adaption of OoT for television... it would be generous to call that a disaster.
Another potential issue with a Zelda TV show is that this particular video game series is not mainstream or attached to any mainstream franchise. Yes, Link, Toon Link, Sheik, Zelda, Ganondorf, and a host of other LoZ characters are in Super Smash Bros., but that is hardly considered pop culture. Even then, the SSB audience is not the same one that the TV show would be targeted toward. Thus, in order to promote the series, Netflix is going to have to do some serious marketing and promotion. If they choose the route of popularizing it by using big-name actors for the primary roles, I will be very unhappy. It's risky to use unknown actors for an unknown television series, but that's what needs to happen to make me and other Zelda fans happy with this show.
Casting is going to be damn near impossible, as will reproducing the magical and strange world of Hyrule with a TV-level CGI budget. There are some topics and peoples covered in the games that are fine when utterly fictional, but will become problematic if projected on to real people (for example, portraying the marginalized Gerudo using black or middle eastern actors could quickly be dubbed racism). Then there is also the factor of translating the distinctive 'feel' of a Zelda game on to a vastly different media. Bonus: Link has to talk.
The ways that a Zelda TV show could go wrong are innumerable. All things considered, there is not going to be a single person that is going to be entirely satisfied with this show. The fans are going to hate it because it can't possibly replicate or fit seamlessly with the existing canon of the games, and external critics are going to be annoyed by the inevitable fan-service. We all know by now that Zelda fans are insanely persnickety when it comes to the continuity, gameplay, aesthetic qualities, and tradition of the series. This picky nature is going to slide right over to the TV version of Zelda. There will be people who are going to absolutely tear this show apart, because it is definitely going to have insane plot holes and massive continuity errors as the screenwriters and actors chase their tails trying to service fans. There will also be people like me who wish it could have been better, but will unconditionally love it just because the official 'Zelda' trademark has been slapped on to a parade of glorified cosplayers. Basically, it's going to end up a lot like The Hero of Time. We'll laugh at it and give them a gold sticker for trying, then let it fall back into the quiet memory of the fandom along with the numerous fan moves, fan animations, and fan games that were created to honor everyone's favorite game series. And that will be the end of it. Nevertheless, it is always exciting to see how people interpret and react to Zelda, since it holds such a dear place in many people's heart.
It could also be a segue into bigger things for Nintendo if it doesn't go too badly, and it could ultimately result in a Zelda movie or a TV series of a game that is easier to serialize, such as Fire Emblem or Mario or even Kid Icarus. We'd also get tons and tons of cool new Nintendo-licensed Zelda merchandise, which is a godsend for collectors and a reason for excitement on the part of the more casual fans. So who knows, really. All things considered, I'm just happy that this is finally going to be a thing.
TL;DR -- It could go really well, and I'm excited to see it regardless, but there is also so much that could go wrong. To some extent, it's basically guaranteed that everyone in the fandom and out of it will hate the show. But I'm excited anyway.