Zelda cycle is not real and is such a stupid strawman that people without a modicum of creativity bring to the discussion. Lumping an entire fanbase together, as if they're one entity, without the foresight or understanding that tastes evolve and change over time is the purest of all internet hyperbole.
A far better explanation for Majora's Mask is that people expected more OoT and got arguably the most experimental game in the series. MM is the definition of hate it or love it; it is also a game that grows with you as time goes on. That's a really bad example.
I have always loved OoT, WW, and TP. When I first played MM, I didn't like it very much, as I was comparing it to and directly expecting, more OoT; more OoT it was not.