My comment above goes hand-in-hand with this. :yes:Majora's Mask appears to me like the One Ring: it is linked to an ancient and powerful entity, it has some of this evil entity's mind, it gives badass power to its bearer, it poisons his mind and turn all its previous bearers into addicts who want it back quite desperately. See:
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Sudden homicidal rage hidden beneath a kind smile... Now, where have I seen that before?
Still, the mask alone has no value, like the ring without part of Sauron's power/mind. When the HMS has it back he is clearly disappointed that the power of the Mask is gone.
-By the way, the urge of HMS has little to do with the fact that Majora is making the moon fall. I'm quite sure HMS never cared one bit about Termina, he just wanted the mask back before the world was obliterated so that he could get out via the secret path to Hyrule. For all we know, Majora could have been defeated and retrieved at the clock tower, without the help of the giants, and the moon would still have fallen over Termina).
Only bad thing is that your pic doesn't prove much, due to the fact he made the same face on OoT, but him shaking Link and losing his mind shows there's more than terror, but desire.