Personally, I think the new art looks incredible! It manages to stay true to the original style of the SNES release, but looks modern and can show off a ton of personality. As long as the gameplay is still great, and I'm not sure why it wouldn't be, I think there is plenty of space for both releases to coexist.

Plus considering Nintendo added Link's Awakening DX on NSO despite the Switch remake having already been released, it seems like they think so too.