Against Link projectiles, take your time. If Link pulls a bomb, he can't use any aerials or grab until he throws it. Use that to your advantage on your approach. If he pulls a bomb, throws a boomerang, then throws a bomb, recognize that on your next approach. Teleport through the boomerang, shield a bomb throw, or go for a grab. When he has his bomb out is when you want to stick on him and make him get rid of it in a bad position as well. You don't want him to start combos with that bomb, so
You can also just swat a boomerang with a forward tilt and focus on grabbing carelessly thrown bombs. Link has a lot of ways to keep swinging and throwing stuff at you, but you, but baby shadow balls aren't useless here, you just can't match what he can do. Bombs, aren't that big of a deal as long as you're able to avoid getting hit by the boomerang and use those small windows to create openings, though it's all a timing issue. Link isn't going to always be open from throwing a boomerang while having his bomb out, but you aren't always going to be open teleporting through boomerangs either.
Up B is hit or miss, so that's just you putting yourself in a position where you can't recognize it coming out. If you're having trouble recovering against Link, then you must not be sweet spotting the ledge from above the stage like you're supposed to.
What you're looking for in this match up, are creating failed offensive and defensive actions. You want to get Link to miss with his Up B offensively and out of shield, miss down airs, and miss hookshot grabs. Then you want to scare him by showing him you can get through his mess of projectiles and bring the game close, but far enough away that he can't just swing his sword and legs any direction he wants safely. Then getting that tech chase grab started, and good edge guarding.
As far as your approach goes, you want to approach in a way where you can short hop over a hookshot, but you want to be grounded enough to avoid his neutral air or shield his jabs.
Sorry I'm a little tired at the moment, hopefully that made sense.