You broke rule # 32 - Never trust anyone named Kyle.
As for the concept, no one has really given a crap about covering gaps between games, as they all are designed to work independently. Miyamoto said that each character is named Link, but is like a generational Link, not the same character with the same experiences. Also, as per the "conversation" you posted, Miyamoto would never have a zelda game without Link as the main character. Why? Because Link is Miyamoto's fountain of youth. Link keeps him young at heart. A zelda game without Link is like a peanut butter and jelly sandwich sans jelly.
Also, I think some considerations will have to be taken with the title, as there have been major catastrophies in Asia and the US regarding floods. Would be like putting out a game called "building bombers" after 9/11.
