To me there are two types of master printers, those who print their own work and those who print the work of others.
Those who print their own work may produce stunning prints not because they have extraordinary printing skills but because their entire photographic chain is well evolved and optimized. If you have your film, exposure and film processing down to a consistent and predictable process, know your materials, have an understanding of the way a natural scene is translated by B&W film, and have a strong sense of lighting, which most often contributes to the wow factor of a print, then you will often produce prints of impressive qualities that require little in the way of printing magic. This also assumes some degree of basic printing competence. If you produce poor negatives of a poorly lit scene, it will indeed require a master printer to make something of nothing.
The true master printers print the work of others. I believe this because they are required to work with a range of negatives that can vary from awful to great and yet still have to consistently produce a stunning print. And as the range of the imagery varies so much, they can not develop some formula per se to compensates for consistent problem the way a photographer may do to mitigate their own weaknesses. A true master printer is also an artist, and if required by the photographer can completely reinterpret the image. A master printer understands perception and has the experience and knowledge of many techniques to achieve the desired goal.