1. A system to conduct link-based operations, comprising: a host processor; a subsystem; a link coupled to the host processor and the subsystem; and a link manager coupled to one or more of the host processor, the subsystem or the link, the link manager including: a performance monitor to monitor one or more runtime performance characteristics of the link, a degradation detector coupled to the performance monitor, the degradation detector to determine a state of the link based on at least one of the one or more runtime performance characteristics, and a training scheduler coupled to the degradation detector, the training scheduler to automatically schedule a retraining of the link based on the state of the link, wherein the training scheduler enables the link to be selectively retrained throughout the life of the link to automatically adapt to component degradation and other operational considerations over time in order to maintain an target performance profile.