Why would we need masternodes?
Because masternodes means HighOnCoins from YouTube will pump the shit out of your coin like he recently did to ChainCoin
http://coinmarketcap.com/currencies/chaincoin/Look at the state of that!
In case you missed it: His theory was that everybody should keep buying and holding, with nobody dumping, and they'll be able to get it to $100 so all the MN owners will rake in the profits.
I'm not sure he'll be winning the Nobel prize in economics any time soon...
Anyway, I think this little experiment of his is what's brought the masternode hype back.