More info on this.
The ending of OOT is odd from an out of context perspective. Basically there's 3 timelines that spawned from OOT (Spoilers!):
- The Adult Timeline moves on after Link is sent back by Zelda. Because of what Child Link does in the past it splits off from this timeline and Link/The Hero's Spirit just vanishes, both mind and body. This is why in Wind Waker, Link doesn't have the Triforce of Courage within him from the get-go. He's not the chosen one until he proves himself worthy. Glass-stained windows of the OOT Sages are shown and there's ancestor Sage ghosts in the game that stem back to their respective species, linking the current WW Sages to the OOT ones.
- The Child Timeline moves on after the ending you see where Link is talking to Zelda. It's been stated here that Link basically tells Zelda what Ganondorf is planning and the Royal Family stops it as a result. Supposedly the Sages are different here because the ones in OOT weren't awoken in the Child Timeline, but bloodline has already been proven to be a factor for Sages (especially ALBW where the Sages weren't even awakened yet and presumably their ancestors haven't been for a bit.)
- The Downfall Timeline moves on after Link was somehow defeated along the way. Presumably during the final fight with Ganon since the backstory plot to LttP states the Sages sealed the Triforce away, which would mean Ganon as well since he basically owns it now. Here there's still a hero worthy of the Triforce of Courage but because Ganon owns it this means he doesn't have it immediately.
Finally, there's something all here that should be noted; when Link gets sent back to the Child Timeline, he comes back from pulling the Master Sword out of the pedestal. This would mean that Ganondorf could already get his hands on the Triforce of Power since he immediately acts on his plan as soon as Link pulls the Master Sword. The only way I can gather this would make sense is if Link, when being sent back into the past several times from an outsider's perspective hasn't actually pulled the Master Sword out yet.
...And now I'm thinking of Ganondorf just waiting around the corner for the kid to pull the Master Sword several times out and all he sees is him walk out, walk back in, hold the sword, rinse and repeat. That was probably frustrating for him.