Nah, I think that the Master Sword is like a major icon of the Zelda series. To not have it in some games, okay. To lay it to rest would be a mistake though. IMO
The master sword is required to defeat Ganondorf/Demise. Unless Ganondorf/Demise is the villain of whatever title then they should come up with new weapons, reserving the MS for when it is truly needed.
This is how i feel. I want gannon to return in WiiU, therefore i need the Master Sword too defeat him, however if there is a different bad guys, then im cool with a different sword. the Four Sword, was cool In MC and we didnt fight gannon, and i was still satisfied. If you all dont want the Master Sword to be present in every game then just Keep it in games that Gannon is the main antagonist
I'm indifferent to this, plenty of decent Zelda games have been had without the Master Sword. The story will play out accordingly as if we didnt miss it so it wouldnt bother me if it was put down, for good or otherwise.