Yes, but I imagine the "Monolith" that helped in Zelda isn't the same one that makes the Xenoblade series. Monolith is a weird studio in that it's actually two branches, one in Kyoto and one in Tokyo. Tales from my ass, but I bet the Xenoblade team (Tokyo) weren't heavily involved, while the Kyoto team (largely focused on asset creation previously) I'd guess were involved in Zelda.