I'd rather be Master of The Mages Guild than Dovakhim, so I certainly hope they don't go robbing us of this OPTION. If you don't wish to master a guild, don't do so, but many of us enjoy it rather well. When you save a guild from destruction, and become powerful enough to overwhelm half its members in a single night. . . I think that gives you a certain amount of leverage.
From the lore we have available now, the mages guild no longer exists. So you're out of luck on that one, although I know what you meant.
As far as I know, Oblivion is the only game in TES series that allowed you to become the leader of the guilds, and it really didn't work out that well; feeling hollow and awkward, as you've mentioned. And as far as any mages guild goes, I feel seniority should be a major deciding factor in rank.
If Beth still has us become leader of the guild, and implements it extremely well, I will eat my words. But the system needs to be improved considerably, or else I feel just not included. I'd rather be on the elder council and have it feel right, than be the head of the guild and feel awkward
Also, in Oblivion, the leaders of the guilds leaving felt contrived in every questline except for the Thieves Guild. If you were to become leader of the guild, I think it should have more drama/weight to it than Trajan saying "It's not safe to go alone. Take this. *soul trap on self*"
I apologize for how this post is disjointed. I'm too tired right now to post a really coherent message. I'll post this for now and write a more adequate response tomorrow.