Theory time!
That's not female Link you're seeing. That's not Zelda. That's regular old male Link. The gloves are different probably because of the gauntlet. The bust is obviously a new item as well. Link can don fake breasts to fool enemies, or disguise himself to fool people.
I think the multiverse is about to be a thing in a zelda game
would explain how link could be a female in another universe and why there are elements of all 3 timelines in this game