This Zelda clip is pretty primitive! Pretty childish, too. You may cite these as reasons for not liking it, but then, you'd be missing the point.
This collection of tiny animated flicks reminds me of bad European stop-motion from the 1970s. It's got the same charm; lifeless eyes, stilted animation, weird, sometimes slightly unsettling plotlines.
Imagine, then, Zelda was born not from Nintendo but from a West German animation project in 1978, and this will look right at home.