In hindsight I only regret starting with an English translation instead of a French one as I suspect that Russian maps better (although obviously still very imperfectly) with French grammar.
Now if you want signaling of intellectualism I've also seen Simon McBurney's adaptation of the novel as a play at Avignon's theater festival a few years ago and it was absolutely magnificent.
I have a hunch you do not discuss The Master and Margarita at parties.
Edit: The downvotes on this is the exact reason why McDuff is popular - it is intellectual masturbation. The one mocked by Russian writers. One, of course, should read it in Russian on in V&P translation to notice this plot twist. It is always fun to watch.
What's your point exactly? Do you think that Master and Margarita is overrated or do you think people like it for the wrong reasons?
For the same reason why you would not be discussing "Confucius, Philosopher of the Chinese" -- wrong audience.
> Do you think that Master and Margarita is overrated or do you think people like it for the wrong reasons?
I gave the answer above - fawning over TMAM among the western population is signaling of intellectualism targeting their friends. TMAM actually addresses it.
Complaining without providing alternatives is not especially productive.
Volokhonsky and Peavar do the best but one still needs those hundreds of pages of footnotes which are just not there. Reading TMAM pretty much requires jumping off the TMAM train every few paragraphs and venturing into Literaturnaya Gazeta, history of KPSS, lore of the MGU, etc just to realize the mood of those paragraphs.