It was missing one home console game. The entire disc was old-school home console games. And you say "free", remember that was a limited offer. Many people got raped paying $80 for it on ebay, Nintendo could have sold it for a profit.
Could have. Didn't.
Nintendo isn't responsible for what people paid on eBay.
And it was missing two console games.
The way I always looked at it was it was the first two 2D titles and the first two 3D titles. Also, it was what you needed to play every Zelda game (at the time) on the GameCube (although OoT was already released on the GCN, that disc was a bit more limited... and, of course, Z1 was playable on the GCN before hand, but only semi-officially) This disc was never intended to be, nor did Nintendo ever claim it to be a "Complete Collection".
It was a freebie. Would I have liked for it to have included LttP? Sure. I already own two copies on the SNES and two copies on the GBA (actually, I have four now, but two at the time). But instead of complaining that it didn't have LttP, I'll just be thankful for the freebie we got.