Link to the Past was on a cartridge which was more expensive to manufacture. Look at PS1 and other games that came on CD. Now they don't even have to pay to manufacture discs and keep them stocks in physical stores. Also compare how small the market was compared to now. Compare how the entire game was on the disc instead of being sold in pieces.

Mfer when inflation

TBF it's hard to compare game development in the 90s and in the 2020s. The development tools are much more abstracted nowadays, which should make it easier to programm a given functionality, and I'd assume that the audience for games is much larger, too. On the other hand, people expect much more from a AAA game nowadays than in the 90s.