The "Masters" folder has been renamed to "originals" since Photos 5 on macOS 10.15 Catalina (the system version that stopped to support for iPhoto and Aperture).
Additionally, Apple started to rename the original image files with unique names, and does no longer store the originals with their original name, see: How Photos 5.0 on Catalina Manages original Files and Filenames - it is very difficult to find a photo inside the library package based on its filename. Only Photos can retrieve the photos.
Since Photos 5 it is very hard to recover the original image files from the Photos Library, if we cannot run Photos for some reason. If Photos cannot open a photos library, even after trying to repair it, we cannot recover any longer our originals from with their original filenames.
I am barchiving the originals before importing them to Photos, after preparing them with Houdah Geo (geocoding, adding titles and keywords), and only then I am importing them to Photos.
Photos has been designed to work with iCloud Photos. The main storage of the originals is in iCloud, which we cannot access directly anyway, and the Mac and our other devices are just storing the mirrored copies of the files in iCloud. By the time the originals have been downloaded from iCloud the original file creation date will be lost anyway. Perhaps Apple will do something about the file creation date in macOS 14 Sonoma to make it unnecessary for the users to jump through hoops to preserve the file creation date.
You could send feedback to Apple: Feedback - Photos - Apple
