There's a 99% chance that it IS Link, but it's still fun to theorize.
Looking at the character design, he's a mesh between the 3 main characters.
Link's face in this iteration has the soft features that Zelda's face usually has. He's also wielding a bow, which is generally linked to Zelda. Zelda is known in the LoZ universe as being an adept bow user. She's able to fire light arrows and even helps Link at several points by using a bow.
People tend to ignore the point that the Link in the trailer IS wearing Link's clothing, he's just not wearing a tunic. The shirt that he's wearing is very similar to the pyjamas worn by Link in Wind Waker.
The bracers which everyone point at as being Ganon's could just be an item. It's not uncommon for Link to wear power infused clothing at times, just look at the iron boots, feather boots, different tunics or even the power bracelet. The theory which I think is the most fun is that the bracers he's wearing WERE ganon's bracers, but are infused with his strength, considering that Ganon did have the triforce of power during Ocarina of Time.
I doubt any of the design choices of the new Link mean anything, but I like to think that they took parts of the 3 Triforce owners and added them to the new Link. You never know, in this iteration, Link could get the entire Triforce again.