If you need to go back in time because you are in the middle of a fetch quest, it just means you are poor at time management.
I would way being at the right place at the right time might be hard for some players.
And the fetch quest in the well is tedious , i also dont really care for the zora...
that would be fun but not as in sequals or anything.
just make one game starting with link, after you finish his part you unlock either zelda or ganondorf and so on XD