Gut reaction would be to say "No, but it's close"
Upon reflection about the feeling I had experiencing it, I think it wasn't so much the flaws that kept it back for me personally. The fast travel got a bit annoying when you needed to move about a lot (especially if you were going and back and forth to somewhere not that close to a travel point), a lot of the Charms were kinda useless, and having to burn a charm on a 'Where the hell am I on the map?' charm was kinda annoying. Those are all small things though and easily forgivable. I think I can't push it to "Masterpiece" because there was never a point in the game where I just had to stop and reflect on how what I was doing or seeing was something I'd never experienced in gaming before. That's a high bar, but for 'Masterpiece' I feel it's a fair bar. So for others I'm sure it does clear that hurdle.
What it *did* do was make me flash back to playing the original Metroid as a kid and the sense of unease and loneliness the game conveyed so well. That's a feat in itself.
Didn't care for the Godseeker expansion (moreso locking some lore behind a bunch of boss rushes), but looking forward to the sequel.