I think we're unlikely to see a female Link, and I also think that the very reasons we are unlikely to see a female Link are compelling reasons that we should NOT see a female Link.
The majority of game designers are men. It's pretty much a given that they are going to better relate to male characters, and as a result will be able to write more compelling male characters than female characters because of this stronger relation. The tendency of people to write what they know will lead most male designers to create a male central protagonist subconsciously; when they decide to create a female protagonist, the feeling that they are fighting their instinct leads them to try and write a female character that is absurdly "feminine" per societal distinctions. So rather than receiving a good character, we get a character that simply ascribes to societal definitions of a female. That kind of portrayal - while debatable as far as whether it can be called sexism - isn't the kind of portrayal that we want in gaming.
The kind of female character portrayal that we want is either a character that is good regardless of their gender, or a character that is good because they are a good representation of a real female character. The former would be easy to create, since we know that gaming is capable of providing compelling characters regardless of gender (Commander Shepard is a good example) - the only roadblock is that developers need to treat the female character like any other character and not go out of their way to make her "feminine", because that quickly descends into stereotypical representation or straight up objectification (I'M LOOKING AT YOU LARA CROFT). The latter would require that developers understand that a real female character neither fully ascribes to nor fully rejects traditional societal gender roles. Full ascription to gender roles results in boring, stereotypical characters. Full rejection of gender roles results in characters like Korra, which ultimately are female characters that act masculine, and are ultimately hollow and equally stereotypical. The way to get to the sweet spot is simply to understand that in reality, people neither fully embrace or reject societal pressures.
So after all that waxing theoretical: a female Link would be completely and totally fine, if - and only if - the fact that she is a female is not forced, but rather an inconsequential aspect of a well-crafted character. But I don't think gaming is quite capable of that just yet. And until then, I'd rather that we avoid stereotypical, objectified or just plain awful characters.
I recommend this video, which covers a lot of what I just said in far better form:
Penny Arcade - Extra Credits – True Female Characters