Trying to understand what makes Orcish Bowmasters so good (or why play Bowmasters over Faerie Mastermind)

I'm a returning Magic player who's found a home in UB Frogtide. I guess the question is more about how Bowmasters matches up to the meta.

I understand that Bowmasters is largely a counter to card draw and cantrip effects (One Ring used to be a must-have in every archetype, but that's no longer a factor). The ping damage kills dorks and other small creatures, but that only occurs against specific decks (primarily control mirrors?). On the other hand, I would think that the card advantage provided by Faerie Mastermind is higher value than the ping damage from Bowmasters, esp in grindy matchups. The only situation I can think of where bowmasters would help is against Izzet Murktide specifically, bcuz it can kill Izzet's small haste creatures.

So it's a question about which archetypes use card draw/cantrips. And whether card draw or ping damage is more effective against those decks. Is there anything else I'm missing?