I'll try to summarize your question to make sure I have it right. If my master and 2 peers fail in a cluster with replication factor=3, what will happen.
In this case, the cluster won't be able to take corrective action to recover until the master (original or a new one) is brought back into the cluster. Although there are some plans of making master redundant in future release, in 5.0, there is no notion of multiple masters. However, one nice property of the 5.0 master is that it persists no data, if your master completely blows up, you just have to stand up a separate machine configured w/ the exact same clustering stanza in server.conf, and as long as the master_uri from the peer's/searchead's point of view doesn't change, the new master will be able to reconstruct state once all peers have registered themselves against it. This fact can be used to set up a fail-over master node w/ dns/virtual ip tricks; this of course is not first class support for master redundancy, but may be a suitable work around for some folks
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