umm its def. not made for theaters, quality and camera workings are horrible, unless they're bringing back the '94 esque style cinema.
Why would the movie only follow ocarina of time? Why not the other games that came before.... and after it?
It could just be a movie IGN is going to have streaming from their site by next year, or it could be a clever joke. Either way, you won't being seeing it at AMC, that's for sure.