Given the same development foundation as in 1998, it would have been logical for Nintendo to release a remake of Majora's Mask after Ocarina of Time. However, leaker Shepsal Nick shattered players' expectations earlier this week by claiming that the remake project is currently "not in any form of development."
But this doesn't mean Nintendo will never revive the Majora's Mask project. In fact, former Nintendo of America marketing and PR head Kit Ellis and Krista Yang both believe a remake is inevitable.
"I've always thought a remake was a sure thing," Krista said on their latest podcast. "They can't still be hesitating; they might have already started development. If it were me, there would be no reason not to do it." This information comes from gaming media outlet GamesRadar+.
The only issue is that the Ocarina of Time remake was developed by Zelda's internal team. If the team shifts focus to remaking Majora's Mask, it would mean delaying the next mainline sequel. Releasing two remakes consecutively is unlikely, but that doesn't mean Nintendo won't revive this project in the future.
"It probably won't be the next release," Kit admitted. "It might not launch within the next year or two. But most of the foundational development work is already done—back on the N64, the team was able to quickly release the original Majora's Mask after Ocarina of Time thanks to a shared framework. The potential for remaking Majora's Mask has yet to be fully tapped."
Kit and Krista speculate that Nintendo's plan is to release a Zelda title every year, alternating between 2D entries, mainline 3D games, and remakes. Since the original Majora's Mask reused a significant amount of content from Ocarina of Time, remaking it would be an excellent choice to fill the schedule. However, many people only remember that Majora's Mask was released on the N64 just one year after Ocarina of Time, but the 3DS remake did not follow this pace.
Ocarina of Time 3D was released in 2011, while Majora's Mask 3D didn't arrive until four years later in 2015. Therefore, this remake will likely follow a similar timeline: first releasing a new mainline Zelda sequel, then launching the Majora's Mask remake to fill the gap between two mainline entries, similar to the operational strategy of the Resident Evil series.
Of course, although both have extensive backgrounds working at Nintendo, these are just speculations, so take them with a grain of salt. However, even if Shepsal Nick claims that Majora's Mask is not currently in development, as Kit and Krista stated, a remake is "to be expected," especially since Nintendo has promised to release more remakes in the future.
Oh, and don't forget to port Twilight Princess too, okay?