...Could it be a master cylinder gone bad? Has anyone experienced this?
Not the master cylinder. Yes, many have had this problem. Brace yourself for the solution ----->
You need to remove the whole brake foot peddle assembly, then clean and lube (C & L) all the parts. The part that is most likely the root cause of the sticking is the shaft under the foot peg. The only way to lube it properly is to take it
all apart.
FWIW, the shift linkage on the left side really needs this same treatment. To C & L this properly the foot peg assembly must come off. When this linkage starts to bind up it can mimic a transmission problem, with the most common complaint resistance or refusal to go into first gear.
Welcome, and how the heck did you get so many miles without our 'help'
Edited to add: While I was typing others were posting. You should always change the brake fluid and bleed the lines as part of general maintenance. But, brake fluid, air in the lines and sticking calipers can not cause the foot peddle fail to return to the full upright position. This is sticking caused by dirt, lack of lube, worn and/or possibly bent parts.