The excuses I hear about people saying that there has to be temporary saves otherwise people will "cheat" the system reminds me a lot about how people complain about how the cape in Super Mario World lets you "cheat" the game by allowing you to bypass the entire levels. Yes, you can do that, but if you do so, you'd wind up missing the point of platforming in a Mario game.
I see a more forgiving save system as something that helps ease frustration more than anything else.
What if the game allowed you to save at any point like you can in OoT? Would people still have a problem with that? By doing so, you wouldn't be able to theoretically cheat like you "might" with the owl set up.
In answer to your last question, yes of course that'd be a problem. Majora's Mask is a very different game that runs on a schedule and is less forgiving that OoT in ways other than it's save system.
In OoT loading a save can only ever send you back in terms of progress, you have nothing to gain from loading a previous save with the only exception being bottled items that are 99% of the time easily replenishable or unnecessary anyway. In Majora's Mask being able to load just before you took too long in a dungeon or failed to get the gold dust for the best sword in time makes the whole ordeal a lot less rewarding. You aren't overcoming a tough challenge, you're doing something that anyone can do simply by loading. Time management in general (one of my favourite aspects of MM) becomes a joke as well.
A more "forgiving" save system would make the game easier, less rewarding and less themeatic with the tone of the game.