I'd argue no.
It aint MM.
It's an OoT blend at most.
Yeah... some people would argue the opposite because he wields the bow and the hookshot
(which is not the hookshot from MM...). There's also the shaky argument that he's associated with the Great Bay stage since melee (and now the Termina Field remix in his showcase video) but it may be more of a nod to YLink being the main character in MM than anything.
i.e. i won't die on this hill
Absolutely and this reminds me, it would have been great to have at least an alt for YLink with a different gear (an undisputable MM alt with the hero shield and the razor sword)
or there's the more ambitious/pipedream option of making his whole moveset based on masks.
Smash 4's Sheik was pretty much still the TP Zelda from Brawl without the ability to switch between the two in match, it looks like Sheik's technically the TP Zelda here.
I think i understand your reasoning:
Brawl: TP Zelda and Sheik were 2 characters in one: Sheik was TP Zelda.
Smash4: TP Zelda and Sheik were separated but still the same characters they were in Brawl: Sheik was TP Zelda.
Ultimate: Sheik is still the same character: Sheik is TP Zelda.
Tbh i think it's a bit of stretch considering that Smash 'canon' is not consistent with anything and is not to be taken as LoZ canon (which is already quite a mess imo). For example TP Zelda never actually transforms into Sheik in the LoZ source material (the only instance where this happens is in Brawl). Sheik only exists in OoT and as far as we know, only OoT Zelda is able to transform into Sheik.
Smash Zelda has her own abilities, her own moves (different from any LoZ timeline). I think Pit's confusion about the whole timeline thing is representative of what it actually is: a mess.
Pit: ''Good advice! But... you guys do know Sheik is just Zelda, right? In disguise?
Wait, is there a new timeline?!'' (a.k.a The Smash Timeline )