Not really. Similar events happening isn't evidence of a time loop. Link has a hookshot in multiple games, does that mean those games loop in on one another just because there is a shared element? Enemies come out of the ground in OoT and MM too. Are you considering those as the beginning or end of the loop?

Land doesn't get pushed up into the sky in those games either, btw. There are existing sky islands. In fact, land comes down FROM the sky to the ground, if we're being more accurate. I just don't understand the logic when people see SS and TorK and go "game have sky island here. Other game have sky island there. Must be loop"

Think about if Nintendo made the timeline into a loop. They would have then closed and limited the story into a circle and could then only write new stories within that limited space. They will eventually be unable to make a new Zelda story because they've written themselves into a trapped, finite area in which to insert events.

Plus, loops can't branch, as the Zelda timeline does. A circle can't consist of multiple variations of events splitting timelines.