2 things:
1) This is obviously not something that will go into the game any time soon...by the time it does, it could be close to or even AFTER the next expansion goes live. So...those of you who are fully mastered (I am almost myself) and who are complaining about not getting anything out of it...would you use the feature after the level cap increases? Please don't automatically say no because of how you feel about it now. I would ask that you think about it before answering.
2) I totally agree that there should be more to it than just waiting a month and picking the master up. I have already posted different ideas of making this more than just a "free" master. I would like to have to work for it...but NOT if I'm going to recieve a random master in return. How does this benefit anyone? It's the same thing as going into raid and group dungeons and hoping the RNG monster is on your side for once. Might as well just scrap the idea if it changes nothing about the way we get masters.
BTW, I like the idea, I just think it should take some work to accomplish but frankly, if I have to do a lot of work and get handed a master I already have, it's not worth it.