I'm sorry? Would it be in the Japanese text? Because I am unable to read that section and I can see no discrepancy in the English parts. Another thing is the first bit of timeline that was ever official, the OoT-ALttP-LA-LoZ-AoL (maybe not LA but it is usually acepted anyway). I definately see your point on there being pressure on ALttP since the whole Seal War thing is very murky to say the least, with all the Ganon sealing happening left and right.
Look closer, dear, it's a little hard to read because the image is so small. The text below the Japanese text is the translation. The very last paragraph says,
"...sequel to the Legend of Zelda® and The Adventure of Link®..." . But then again, the back of the boxart says "The predecessors of Link and Zelda..." so the two informations conflict each other.
Perhaps some more explanation is needed. While I was playing they were going through the whole history of the game saying how Link is the decedent of warriors or knights or something like that. (I can't remember exactly) So that means any number of Zelda games could have come before it. But what made me think "OMG! This is the end of the Legend" was at the end of the credits where they say "And the Master Sword once again sleeps. Forever" Come on, how many games do we see the Master Sword "not sleeping?" Counter that argument, and I'll be willing to listen to any objections you have about my theory
As for the descendent thing, Link (each Link) is a descendent of a Knight of Hyrule. Don't get confused and think that means they're related (a lot of people get confused on that), because there are many knights with many families and descendents. In any case, there are some points that make it seem like the last in the series such as
"The Master Sword sleeps again... Forever!" and the supposed defeat of Ganon and purifying of the Dark World....
HOWEVER! That was long before any of the newer games were released. We can't take everything the same way anymore. In addition of changing the term "Wise Men" to "Sages", the GBA port even added a Dark World ending. That would mean that the Dark World is still in tact, imply that Ganon is not actually gone. I'm not saying it's a 100% for sure thing, I'm just suggesting that it could be possibly taken into consideration.
I'm
not arguing that ALttP
isn't the last in the timeline, but I do want to point out reasons why it may or may not be. Not really choosing a side, just providing information. ^^