I sometimes make a master component of a whole page and then create instances with variations to display different states on the same page. But when I do, the name of the instance is not displayed, and this makes it harder to understand what state the page represents.
It does help in telling the difference between a frame and a component instance, but there could be some better way for that.
There’s also other wanky name display logic. Master component names are show if they are not in a frame or not on whatever zoom level happens to remove them from sight. Showing them all the time would be more useful. Then you could see what is or is not a master component.