I don't think MM is the alternate reality of Hyrule no matter what Hyrule Historia says. I think Termina is just another country. Therefore there are no counterparts to characters like Link, Zelda, Ganondorf. The story has no relevance to OoT and therefore no actual links can be established between the two as far as I see. MM is just part of the child timeline. Fierce Deity does look like Link just like other masks cause resemblance to other characters. But I think these are just 'guest appearances' and not meant to represent the actual characters or reflect the hero of time's story. Obviously it sort of is the same Link but it's not following the success or decline timeline so there's basically no proof.