The thing holding back the Reserved List elimination isn't necessarily the collectors, but the stores that depend on selling singles. They don't make enough on sealed product, so selling individual cards are what keep those places going. Considering they also host tournaments, FNMs, and other sanctioned events, harming those businesses would be a big hit to WoTC themselves. They don't want to crater prices with a big reprint like a Standard set. That wouldn't be shooting themselves in the foot - it would be shoving the whole leg into a wood chipper.
But a Masters set wouldn't hurt prices much. Low print runs, and moving chase cards to mythic has kept prices stable. Hell, Tarmogoyf was reprinted THREE times and it's price has actually grown over time. It would be enough to keep the high-capital buyout-frenzied "capitalists" who are exploiting an unregulated market out of the game, stabilize prices, and put more cards in circulation, giving more people access to the cards. EDH and Legacy have seen favorite cards skyrocket in price over the last two weeks because of a very, very tiny group of individuals with a lot of money and even more greed. Not and exaggeration, as one of those high-rollers bought out Moat and rose its price by roughly $800. He also bought out other cards, raising their prices nearly five times their previous selling price.