I believe physics curriculum designers are either too convervative or agnostic about the pedagogic structure.
Since critical thinking is the main feature of masters programs, physicists who insist on problem solving or advanced skills-based curricula for masters are in fact not being loyal to pedagocic theories or learning at the graduate level.
This might have consequences as, beyond the extra-IQ students, others are left at a disadvantage - even if they acquire those skills. Masters level education was always about critical thinking- and this is gained via essay-based projects on cutting edge field fronts better. Knowing physics does not imply critical thinking at higher level, as it is narcisistically assumed.