But there is one question that I want to ask. Is it more likely that this passage refers to the specific incarnation of Link and Zelda seen in TMC, or is it referring to every incarnation of Link and Zelda throughout the timeline? Your thoughts please. Any chance of a conclusive answer?
I believe that the answer can easily be found if we think about the two possible purposes of this quote:
1. The developers wished to tell players that there
potentially might be a sequel to TMC featuring the same Link.
2. The developers wished to hint at players that this is chronologically the first Zelda game.
If you say it refers to the TMC Link and Zelda alone, then you need to explain for what reason the game should mention that this Link might *perhaps* have other adventures to do. It's not like players would've been prone to assume TMC Link was gonna stop roaming Hyrule after the game's end if they didn't include that quote as an all-clear signal. Because that'd be very silly, no?
Moreover, no hints at potential sequels were made at the endings of LoZ, ALttP, OoT, and FS, all of which were later decided to get a sequel. That's because the devs don't usually announce upcoming Zelda sequels in Banjo-Kazooie fashion.
Therefore when the ending text says that Link and Zelda may encounter other adventures in Hyrule, for as long as the Force guides them, it must be referring to all their future incarnations.
Or... are we to assume that upon the deaths of TMC's Link and Zelda, the ongoing story will suddenly end and the guidance of the Force will cease?
Besides, even if that Link did go on to have other adventures... None of the other Links in the other games ARE that Link anyway. Except maybe the Four Swords games, anyway.
Ever since OoT's release, Nintendo have been speaking about Link in a way as if all his incarnations are the same person. Whether or not this is true plays no role here. Important is that TMC's ending quote is just one more of the many instances where the entirety of Links is talked about as if they are one person.