Well, I don't mind making jokes about Zelda, but I probably wouldn't make fun of it in quite the way this guy does. It seems almost like he's being condescending to the series. Also, I don't really share his sense of humor in general. It seems a little more rude than I would like, the censoring just doesn't make it "nice."
I think making fun of Zelda is great, as long as it's done tastefully. I've seen plenty of Zelda parodies on YouTube that I thought were really funny. In fact, I think I'll Link (pun intended) you all to an example of one.
http://www.youtube.com/watch?v=SAsHknWPwts