Nope, hardly overused at all. I'd think it a tough concept to over use when looked at with a little imagination, actually. As said before, it's not even a major point in some of the games it's used and it offers variations on the concept from one case to the other. Ocarina has the "see the same land you know in the future", Majora's has the
Groundhog Day Loop, Wind Waker has an indirect kind of time travel (at least from the enemies' in Hyrule's castle perspective after being unfrozen from about a hundred years of sleep), Skyward could be considered like OoT's case but with past and future swapped, anyway, it must be clear by now. Point is it's a fertile concept if you make it so. Not to say they shouldn't try some other fun gimmicks, would be pretty cool if they added some variety in case it could get stagnant.
Not to mention I'm another time travel fanboy... well, sort of. Seen it used to powerful effect and it still holds a few interesting questions and implications by itself as a concept in general. One example is how Majora's Mask raises an issue that always puzzles me a little: how your work through the game could be rendered near pointless within the game's world itself. Say, when you go back, with the world resetting and everything, seeing how everyone you could have saved is not out of their troubles anymore, any appreciation you probably got for doing it is now forgotten (well, more like it didn't even happen in the first place), and better yet, the game makes sure to also reflect that on your inventory too by taking away your numbered items. It affects both the gameplay and the small factors fewer people might even bother to look at. It's some pretty impressive and clever attention to detail if you think about it... and the bosses are also fun to fight again.
Not looking to drive the thread off-topic, it's just that was the first example I could think off.
The concept of time travel can be exploited in far more ways than that, so as I said, I don't think it is overused or can easily be. Just my opinion.