What's the output of $ ls -l /usr/local/bin/mysql
?? If that is a symlink, then what is the output of $ ls -l /path/to/whatever
(where /path/to/whatever is whatever /usr/local/bin/mysql links to)?
The error message makes it sound like /usr/local/bin/mysql is a symlink that points to another symlink that points to another symlink, and so on. Something is messed up there.
You may need to forcefully uninstall everything relating to mysql, and re-do the install. Something like # pkg_delete -xfi mysql
will do the uninstall of every package with "mysql" in the name.