It’s mostly a masterpiece because of when and where it was written, and who it was written about. If you’re lacking the context of the author and the times (most people are), it can take a long, hard time to appreciate.

Specifically, it’s written for a Soviet audience at a time when the censor was hard to get past. So the only way you could publish controversial thoughts or critiques about society was to couch it in metaphor, sarcasm, and double entendres, in a way that requires a lot of cleverness and courage on the author’s behalf. Master and Margarita is considered to be one of the peaks of this genre, because the story it tells manages to have an interesting plot and narration style, even if it’s just there to prop up the incessant jabs at contemporary soviet elites and norms.

It’s sort of like reading a comedy in another language, that’s been translated to English, but all the jokes are region specific, satirical slant rhymes that are explained in the footnotes. It’s very good, but hard to enjoy in its, originally intended, viscerally funny delivery.

I see. In hindsight, it makes much more sense now, thank you!

I, for one, found it unbearable to read. I wouldn't recommend it. Maybe someone with the right background and who can read it in the original language could find some appreciation for it. I did not, but YMMV.

Many years ago I was especially excited about how the author managed to circumvent Soviet censorship restrictions :-)