Before I start, we have to come to a basic understanding of what a timeline is. Imagine the "official" timeline is a jigsaw puzzle and every game is a puzzle piece; as theorists, we try to complete this jigsaw puzzle but there are always some missing pieces that will never be found. Every time Nintendo makes a new game, they give us another piece to the puzzle, but the shape of the puzzle changes, to the effect that we can never actually make a full, functional puzzle because we will never have all the pieces. This timeline is no exception; it cannot make sense, because it does not have all the pieces. The primary difference between this timeline and Aonuma's magic "official" timeline is that Aonuma has those missing pieces, that are games and stories that have not yet been created. With these magic pieces, the timeline would function; unfortunately, as theorists, we will never have all these magic pieces. We have to work with what we have, and what we create will always be an imperfect product, even if Nintendo makes it (as I believe was the case with this timeline). To extend this metaphor, I'll present what Aonuma's timeline might look like if I were to modify my timeline (which I acknowledge is not without holes) with some of the missing pieces:
................./--TWW/PH--ST
(SS)--OoT
.................\MM--TP--a--TMC--FS/FSA--b--ALttP/OoX/LA--c--LoZ/AoL
Where a, b, and c are:
a) A game/event that explains the Hero of Men in the intro to TMC and explains the Minish
b) A game/event that clarifies the whole debacle that is the Seal War and the origins of ALttP
c) A game/event that explains why Ganon is alive and is up to evil again, or explains why/how there is another Ganon
Even then, there are still many holes, but my point is that Aonuma probably has events in the "official" timeline that he can't release because the games in question don't exist yet.
Now, my second point. I've actually thought about this timeline for a couple hours and there is a fairly simple reason why this timeline cannot work.
The split timeline itself is entirely dependent on the Hero of Time's success in OoT; it cannot exist without it. Recall that what causes the split is Zelda sending Link back in time with magic and the Ocarina of Time. If the Hero of Time dies at any point in his adventure, the split will never have been created, because he was not there to be sent back in time, and the timeline becomes linear, rendering this proposed timeline impossible.
If the Hero of Time dies before he removes the Master Sword, Ganondorf touches the Triforce and it splits because his heart is impure (see the quotation below), which results in events that have yet to be seen in any game; one could attempt to argue that this could be how the timeline in question places ALttP there, but that timeline does not explain the split, nor is it consistent with the backstory of ALttP and the Seal War (I can explain this in a subsequent post, if requested). In any event, this also causes the child timeline not to exist because he was never alive to defeat Ganon and be sent back in time to trigger the split in the first place. The events of TWW also probably cannot happen because the Hero of Time was never successful in the first place, which results in incredible, unexplained inconsistencies with TWW even if you do try to explain it away.
Sheik said:
If the heart of the one who holds
the sacred triangle has all three
forces in balance, that one will
gain the True Force to govern all.
But, if that one's heart is not in
balance, the Triforce will separate
into three parts:
Power, Wisdom and Courage.
Only one part will remain for the
one who touched the Triforce...the
part representing the force that
one most believes in.
If he dies after he removes the Master Sword but before he defeats Ganondorf, a similar set of events ensue, except the Triforce definitely splits in this event, because we know it happens while the Hero of Time is in the Sacred Realm. In this case, Ganondorf would probably retrieve the other Triforce fragments as there is no one to stop him. Again, this butchers the entire split timeline, causing the Hero of Time never to be sent back in time and the split is never created.
As far as I can tell, there is no circumstance where the Hero of Time fails that can result in a timeline with a split in it, because the required events never happened in the first place. There is also little to no explanation for why there can be a third "split" that results in ALttP, as there are massive inconsistencies with the back story of ALttP and the Seal War. You can only have one or the other, not both; either the timeline is linear or it is not, and there cannot be a third split in this fashion. It seems to me like Nintendo just haphazardly put together two of their previously confirmed timelines from post-OoT but pre-WW and the one that consists of all games released between 1998 and 2011. These cannot be meshed together as they have done, because there is no reason apparent to me that allows for a third split. Even if there is a logical reason, what they have proposed here is most certainly not it.
In conclusion, Nintendo has provided us with "confirmed" timelines in the past that have been retconned since; many times, in fact. This is not a new thing in the slightest, because people have released information that has been incorrect, claiming it to be irrefutable, and then going back on it and saying it was untrue, the most famous example being Miyamoto himself, who was not in a place to discuss timelines. I see this timeline as just being another in a series of retconned timelines that have been taken back because there was an error or Nintendo changed their mind; what makes this different than any other development statement? Developer statements have been proven to be incorrect not long after they were said almost half the time. If this one doesn't make much sense, why should we believe it is the be-all and end-all of timelines? Don't think making timelines is a thing of the past; in fact, Nintendo is still doing it themselves, because timelines are always works in progress that are malleable and often drastically reshaped. Without the missing puzzle pieces, the timeline will never be solved, and I don't see this statement as an exception to the rule.