I haven't finished the game yet so this may change, but it's funny to me that for like, nearly all the games at this point, Ganondorf's in story rival and perceived threat has been someone other than Link.
Ocarina of Time: Probably the closest to seeing Link as his main threat/rival, along with Zelda. He also seems to see himself as above the situation though so isn't that concerned.
Wind Waker: King Daphnes is clearly Ganondorf's perceived rival. Link is seen as his latest pawn, and while recognized as "The Hero of Time reborn" by Ganondorf, still considers him beneath even killing in the finale, and is ultimately stopped by King Daphnes anyway.
Twilight Princess: Midna is absolutely seen as the direct rival and biggest threat from Ganondorf's perspective. It seems likely he doesn't even know who Link is, and assumes he's some form of bodyguard when he shows up.
Breath of the Wild: Zelda is the biggest threat to Calamity Ganon, and does the heavy lifting in keeping it sealed until Link comes along to turn the tides.
Tears of the Kingdom (again, haven't finished so could be wrong): Rauru is Ganondorf's main opponent in the backstory, and he likely still perceives him in this way, with everything Link and Zelda are doing seen as resulting from his plans.