The Library -> What If...? -> Zelda_freak ->
A Different Wish...
What if King Daphnes Nohansen Hyrule had wished for Hyrule to be brought back above the waves, instead of being buried beneath them?
Well, if Link defeated Ganon then I would assume that the people would come off of the mountain tops and create new ways of life, a new economy, and, most importantly, a new Kingdom.
And if Link did not defeat Ganon? Well, then Link and Zelda might have been killed, but maybe not, after all Ganon did tell Link that he would not kill him just before stealing the Triforce of Courage from him. But one thing is for sure, Ganon would have taken over Hyrule (Jealous [expletive]!), and, of course, become the new king.
But what of everything else? Well, the Koroks would probably go back to using the Kokiri form (After all they did only use the tree-like form because of the flood). The Gorons might come back unless the three merchants are all that was left (though I doubt the truth of that statement). The Rito would, most likely, keep up the post business, that's all they're good for anyway. Because of the mystery surrounding the Gerudo and the Deku, I can’t comment on them, and, who knows, the Zora might have even come back.