The cryptospace has changed and the market can totally accept masternodes. Boolberry coin have good potential.
There's one thing I absolutely accept about masternodes. We should totally reward those who maintain stable nodes with good uptime and connectivity. But all the masternode schemes I've seen include a large deposit of money. That's the bit that goes completely against all logic and ideals I've known so far.
In general, I pay people for useful services. I don't pay people just because they already have money. In the real world, rich people don't get richer simply by having all that money, but because they use their money sensibly -- for example, on servers and Internet infrastructure.
Moreover, I don't want a world where you need a hefty deposit in order to be a service provider. I'll rather trust a distributed P2P network than an oligarchy of a few rich players. Isn't that why we have cryptocurrencies in the first place? If you want old-time big-money capitalism, you can already do that outside the crypto world.
I mostly agree with what you said, but masternode by themself have nothing wrong, its more about how you become one that is an issue (High collateral in most cases). I also believe that like DPoS a masternode should be only be reward if it provide a stable and outstanding services...