Among all of Stevenson's creations, The Master of Ballantrae is the sole work he consistently described as a tragedy. While his earlier books often highlight triumph achieved through heroic efforts, this novel seems to imply that such efforts are destined to fail. Many readers consider it Stevenson's most accomplished work, but others find the dark storyline and the somber nature of several characters, particularly James Durie, the Master, to be disheartening. It's perplexing to some that the same writer who once stated, "There is no duty we so much underrate as the duty of being happy," could produce such a bleak and pessimistic narrative. Consequently, some readers are inclined to dismiss the novel. However, many critics argue that this book finally unveils Stevenson's true perspective on life.

The conflict between the brothers—James embodying rebellion and wildness, and Henry symbolizing peace and responsibility—mirrors the external struggle between the Jacobites, who were fighting to restore the Stuarts to the British throne, and those supporting the House of Hanover. This parallel is a central theme in the novel. Just as the Jacobites faced defeat at Culloden, albeit with significant losses for the English, James, known as the Master, appears to be "defeated" by his more composed and responsible brother. James, having left to fight for the Stuart cause and presumed dead, resurfaces multiple times, bringing significant distress to Henry and his wife, Alison Graeme Durie, who was once engaged to James. This sibling rivalry dominates much of the narrative, and the conclusion, where both brothers meet their demise, underscores the futility of such struggles for dominance, especially within the turbulent backdrop of Scottish political and military affairs.

Despite criticisms regarding the story's weak and contrived conclusion, the somewhat unnecessary character of Secundra Dass, and a disorganized plot that sends James to an overwhelming variety of distant places, many critics contend that the early scenes set in Scotland are some of Stevenson's finest work. The depiction of the gloomy Durrisdeer household and the desolate landscape of the estate are vividly portrayed, contributing significantly to the novel's ominous atmosphere that the author evidently aimed to achieve.

Several critics point out the absence of specific details in the text, which seems to stem from Stevenson's emphasis on the two primary characters' development. Nonetheless, numerous scenes, including the compelling depiction of the brothers' duel, provide abundant detail. A notable example is the detailed observation that grabbing an opponent's blade with the left hand, as James does, was deemed unsportsmanlike.

The core message is clear: conflict comes with a high price, especially within families. Disloyalty is similarly disgraceful, particularly in familial settings. Life demands significant courage and patience from those who aim to achieve something meaningful. Additionally, there is an implication that many achievements may never be realized.