The closest one can legitimately get to playing The Legend of Zelda on mobile is now the closest one can get to legitimately playing The Legend of Zelda on PC. Let's see how much Link is packed into the first five minutes of Oceanhorn: Monster of Uncharted Seas.
It's no secret Cornfox & Bros' epic island adventure covers much of the same ground as Nintendo's finest fantasy franchise, but it does it with such style and on platforms where The Legend of Zelda doesn't normally tread (for now) that it's hard to stay mad at Oceanhorn. Besides, would a cheap ripoff include music tracks by Kenji Ito and Nobuo Uematsu? Maybe? I don't know how much those guys charge.
Here's how the developers describe their game on its Steam page.
Oceanhorn: Monster of Uncharted Seas combines captivating storytelling, breathtaking 3D visuals and exciting gameplay into one epic action-adventure experience. In the game you explore the islands of Uncharted Seas, a world filled with many dangers, puzzles and secrets. You must fight monsters, learn to use magic and discover ancient treasures, which will help you on your quest. Use all of your wits and skill to unravel the mysteries of the ancient kingdom of Arcadia and the sea monster, Oceanhorn.
The Steam version of the game has sharper graphics and revamped controls, but the feel of the game remains the same and yes, that feel is very Zelda-riffic.