I'm glad to see this as a topic here, since it is something that needs to be addressed. The big ideas have already been mentioned, such as more competitions and stuff, while other ideas have rightfully been shot down (like removing Zelda from the site's name), but there has to be more.
I do agree that the Wiki needs to be more visible; hell, until recently I didn't realize that's where my little intros for featured projects were being posted simply because no one told me. And if they did I probably forgot, so either way.
I think having free resources available for people to use would go a long way as well. We've had such a system available in the past, and I think it works to centralize the resources (sprites, tiles, music, etc) here to really match the name. I've always liked that idea, because it made the forum feel less like just a place to talk about games and more of one to share resources and stuff to help others build their game. I mean we still have stuff like that with the Project Zelda Engine, but I think being a hub for projects would serve us well in the long run.
That's really all I can think of.