I'm not ok with it. Whilst I enjoy the kind of RPG that allows that sort of thing such as Dragon Age, Skyrim and Fallout. Zelda is not such a series. Link is a character of his own with his own motivations and personality. His personality and character is that of a good natured hero, you can't play as an evil link who murders human nps who get in his way and that is just a part of what keeps the feeling of Zelda, it's a heroic adventure.
Link also has a certain look to him which is instantly recognisable as link even though different art styles and different ages are used across the games. To change that would not be a good thing. He's an iconic character just the same as Mario and should retain his signature look with some slight variations each time.
I guess I'd ask what traits Link really carries that aren't common to almost every video game protagonist. He's brave in that sort of generic way and he's... male. Those seem to be his most defining characteristics.