That he gets paid is uncertain. Is I read it. He got an offer that he accepted, but in the end the deal was called off. He put work in it to make it an original title and a Zelda fan game. Now he needs to make a decision:
1) Make an original title, that he might be able to sell, if he finds a publisher. He owns everthing of the game. He doesn't have a legacy to build on and has to create a new cast for a number of the main and extra characters he used from the Zelda legacy. Also sprites and tiles coming from Nintendo games can't be used anymore. And sprites and tiles custom made by others can't be used.
Advantage: You can get money for it.
Disadvantage: It is a lot of work and you need brilliant concept that isn't to Zelda-ish.
2) Make it the Zelda fan game as originally intended. He won't be able to make money of it, but he can still use it in his resume for job applications. With a lot of luck Nintendo might publish it and give you a small portion of royalties (I seriously doubt this will happen). On the other hand he can use a lot of sprites and tiles from the Zelda games and use the Zelda legacy to build his story on.
Advantage: A legacy to use and less work in making tiles and sprites.
Disadvantage: You most likely can't make money of it.
So the choice is King Mobs. Making money requires work and you still have to sell it to a publisher. (Publisher still includes on line webgame sites and the likes). But work has been done on both versions already.
You're over-complicating it.
Advantage for Original Game: Possible profits, an excellent addition to King Mob's portfolio, when job-seeking.
Disadvantage for Original Game: A lot of work, true, but either way King Mob is still putting in hard work to get a great result. If it's not Zelda-ish, then that's good too, original content is excellent.
Advantage of Zelda fan game: It'll appetise the Zelda fan gaming community, and it's a great addition to the King Mob's portfolio, when job-seeking.
Disadvantage of Zelda fan game: No profit.
Basically, King Mob won't be losing anything from making an original game, except it's (a lot) more work. A Zelda fan game will get him nowhere, apart from the pleasing of the internet for a couple of hours. An original concept, with original content (which King Mob is obviously completely capable of) would benefit him in every way.