You're not thinking this through. You're suggesting all of these
huuuuuuuuge changes to his game that
completely change up the kind of character he is, a zoner, without thinking of how it will affect
everything else in his game.
Bombchu: Acts as Hothead, but it explodes on contact.
How long would it travel around the stage for, how quickly? How does this help Link zone effectively when he cannot control it? Would it just explode on contact with the ground if he threw it from the air? Would he have to crouch and lay it to make it work? Could he
himself pick it back up? Really, think of how much you're taking away from Yink in terms of AGT tech (a huge part of Link/Tink/Yink's game), which would affect recovery, approaches, and attacking.
Slingshot: Acts as Spacie Blaster probably with explosion due to deku nut.
Which spacie? Would it be like Fox's, with rapid fire and no hitstun? Falco's, in which there's high hitstun, but a delay between rounds (would Yink be able to use Falco's laser tech, like the SHDL?), or Wolf's? What would the explosion do? High knockback, high hitstun,
stun an opponent and paralyze them? If so, how would you compensate for the
huge amount of power behind a projectile like
that?
Bracelet: More knock back no long distance, any good player will adapt possibly raise Up Special hieght.
Knockback on what? His throws, attacks? Saying "any good player can make up for it" is a **** statement, since you don't see good Smash 64 players making up for Link's subpar recovery, in a setting in which he can't do the kind of tech he can now. Something which would affect Link again when you take away his bombs and tether recovery. Increasing u-special height does more than just affect his recovery, so you can't just say "make him go higher" to compensate; it's not
enough.
Hylian Shield: I guess would work similar to how Bowser's Crawl shield works.
Would
Yink be able to crawl then? How would that even work? He can't even move under his shield in Ocarina, or use a weapon when he's curled up, so how would that be of use to him? Why couldn't he be able to crouch-cancel attacks and counterattack? Why should he just be stuck taking the hits for the sake of a gimmick?
You need to figure out some of the basic tech out there, and some of the more specific Link tech before you suggest changes like this, that would entirely change how the character is supposed to play in general. Link's a zoner, with a poor recovery, enhanced by a knowledge of deep tech that helps him dole out pressure on stage, despite his slower speed.
Again, think these things through more. We can keep going, but I'm calling it 2-0 in my favor.