When they made the initial revealing at E3, I said they should just call it: The Legend of Zelda.
With all the talk about rethinking the conventions of the series, I believe no subtitle is needed. They should take a new start
Zelda always been a franchise with original titles and subtitles, as far as it can gets (The Hyrule Fantasy). The rare exception being Zelda II: The Adventure of Link, which was still during a time where the series was defining itself.
I believe just TLoZ is an answer to what's only a fad for naming things, bc we are in this period where Holywood makes many "reboot" movies. It will only adds confusion in a series this old.
Also why not wanting a beautiful name that enlightens the story or characters, like it always did. The game likely will not be just a reboot.