Wow, stumbled upon this after looking at the Halo one.
That is probably what really happened, exept for *ranting nerd alert* the inaccuracy of how Link got there.
I dont remember exactly, but I think Link's mother was wounded by Ganondorf ( I would assume his father was killed in the same attack) and she managed to get to the forest and gave Link to the kokiri before dying.
But the thought of your idea was funny. I can imagine Ganon getting back to his fortress, cackling manically, as he reaches into the now empty bag.