I like Majora's Mask. I like every Zelda. But MM has problems. Big ones.
For starters, I hate the save system. Normally, that's not a bad thing, but in this case it became very problematic for me since I played it on Gamecube... and the game froze. Often. Let me tell you, nothing is more infuriating than doing a whole lot of mini-quests to get to a dungeon, going through the dungeon and solving all the puzzles and fighting all the enemies, trying to find all those annoying hidden fairies inside the dungeon, then defeating the boss, then playing some parts of the game that only open up after you defeat a boss, getting a lot of new heart pieces, upgrades, and new masks, then... the game freezes. Because you can't save at any time unless you restart the whole three day cycle. And the game froze on me multiple times... usually right after I beat a dungeon boss. I eventually started saving and starting the three day cycles all over and then fighting every boss twice just to ensure that didn't happen.
Then, I screwed up at the very, very, very end of the epic and long-winded Kafei-Anju quest... and had to do it all over again. Zero room for errors. Zero room for mistakes. You practically have to have a strategy guide to do it, otherwise it can lead to hours of lost time (in real life).
Then, the game had a heavy, heavy emphasis on mini-quests more so than actual dungeons. On one hand, nearly everyone in the game had a mini-quest and you felt more connect to them. On the other, I got sick of mini-games and mini-quests very quickly. So much to do, so little of it very enjoyable. And so little of it optional too.
Lastly, the time restraints WERE a problem for me. Compared to Ocarina of Time, I could play for hours on just one thing: fishing, exploring, racing. Even with extended time for Majora's Mask, I never felt like I had enough time to do everything until I cleared most of the game and opened up all the areas. Navigating to every area was also much more difficult (lots of jumping, flying, rolling, swimming, transforming), making getting around much more difficult than in Ocarina of Time (which was simply: run there).
The game still has a lot of good qualities, from a great villain and story, great music and graphics, and great puzzles and weapons... but the pacing of the entire game and the way the saving system was structured sucked the fun out of it for me. I was worried about what I was doing, whether I was going to goof up or the game was going to freeze, and I'd have to restart all over. It wasn't fun to be in that mindset all the time.