@Sarix- In smash it's a little more ambiguous because of blastzones and ledges. Every character wants to create zones to set up traps/limitations for your opponent to eventually knock them off stage or set up a combo. The difference is the primary method through which it's achieved.
In GG if someone is camping a Pot, then all he can really do is walk forward, block, and attempt to create some sort of situation through move selections or baits where they either limit their opponents options or make a read. Somehow his only method of approach becomes a sort of zoning, even it's sort of backwards, and he is classified as a grappler. Generally characters who are classified as the zoning characters, have a longer reach and or projectiles that allow them to create opportunities. Let's take Axl Low for example. Axl does not have many setups off of his long range pokes/zoning game. So why would Axl zone or be considered a zoning character? He primarily plays a keep away game because his rush down is weaker, even if it is his only way to combo start. He is indirectly creating opportunities by setting zones/traps etc in which he has stronger setups.
Link can be played exactly that way. His amazing boomerang was taken away which allowed for a lot of long range setups into combos, and replaced with something a lot more mediocre, even though I wouldn't call it bad. Bombs are very good but take forever to pull out, and use in different ways. Arrows don't offer much in the way of pressure or option controlling on stage unless you already have a bomb or rang out. That being said, I do not think Link can be successful without using every zoning tool he has at his disposal. Link's rush down is very high risk but also very high reward. Fair is basically your strongest aerial on shield or whiff in terms of safety, but beyond that, everything is highly situational. If you know you can land a dash attack or a grab, there is a huge payoff there, but if you whiff/hit a shield with high reward moves, you are eating a full punish for free most likely. While Hylian doesn't necessarily make zoning his primary objective, he definitely uses bombs in several creative ways to create opportunities through his range.
Basically I think Hylian is zoning in that sense and that Link is a zoning character in the traditional fighter sense of the word. It's just not as emphasized through his playstyle or even in Link as a character because while he needs to occasionally use those tools to help create advantages, he is certainly strong enough of a character to not need to rely on his projectiles. That is also a key factor. There are quite a number of characters that I would classify as heavy rush down or more zoning based than Link who can either reflect or disrupt Link's projectile based zoning attempts, or who can get inside of his projectile zones before he can even set them up.
TL;DR Link can zone, but it can be ineffective against characters more suited for zoning or against heavy rushdown.
Hope that helps. ^_^
@Sanitys_Thief- If Instant tossing is like how it was in Brawl, then you just need to pick up the item and throw it in a small window. Iirc you have to be in the air and the cstick just allows you to instant toss in any direction.