I've read a similar theory elsewhere, except going forward in time doesn't make any new timelines. It's still the same timeline until he has to go back to the past and alter it. Link then cannot return to the old future. Jumping forward in time puts him in a new future. And all the abandoned futures have the same outcome. Simple as that. Honestly, I'm more concerned about how it leads up to A Link to the Past.
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Haven't you heard, baby? I'm a registered sex weapon!
It's another Goddamned mailbox!