Artists Pablo Belmonte and Paco Martinez have been hard at work at recreating a multitude of The Legend of Zelda: Majora's Mask assets in high-definition, resulting in the video you see above, as well as the small puddle of drool you see at our feet.
The pair released a concept trailer back in 2012, but with new assets revealed in the video released earlier today, it appears that Belmonte and Martinez are still working through the plethora of enemies and locations from Majora's Mask. Sadly, we doubt such a thing will ever be playable; if not due to Nintendo shutting it down, then due to the project's own scope. Nowhere in the video description is it implied that this is meant to be a playable game, but that "its ultimate purpose is to be presented to Nintendo Co."
Still, Legend of Zelda series producer Eiji Aonuma did say that Nintendo was "seriously considering" a re-release of Majora's Mask. Quick, everyone! Cling to vain hope! Cling as hard as you can!