Dude is just really good at tucking his bits in. Remember he does wear tights most of the time

Edit: second thought, not even gonna start that.

I'm gonna go with, they deliberately left that part out because it would be awkward and weird if they drew it, he has one but it isn't shown because this is just for concept art purposes.

Like the classic Brazilian lullaby goes:

O pinto do meu vizinho parece maior que o meu
Seu sonho de dar lá em cima, eu acho que é engano seu!

:/

I really wanted to see his penis

The omission of the nipples pretty much confirms it's a girl.

No No No Don't you know that Hylians get pregnant by kissing so what would they need anything else for..

It's essensially: "My neighbor's dick looks bigger than mine".

Poor Link. <3

I don't get what the fuzz is all about. This is concept art, isn't it? Considering the character appears practically nude at the beginning of the game, it's normal they drew him beforehand to know how to show him. The only thing not in the picture is his crimson loftwing, and considering that's the only thing they weren't going to show, they didn't bother.