In theory, yes. In practice, no.
Pooled masternodes are now a thing, as are masternode hosting services.
Those TTPs stack additional risk on that already incurred by using indubitably compromised VPS providers like Amazon and DigitalOcean.
Of course those practices are fated to inevitably end in tears and learning of valuable (ie expensive) lessons about the dangers of greed and security in obscurity.
The hole idea of master nodes is flawed, simply because you cant do mixing on your side, i.e. client side. Its similar to a secure email. People use and thrust secure email providers (e.g. tutanota or protonmail to name a few) because they do client-side encryption. In other words, an encryption is done on your computer, without anyone else involved. Can you imagine a private and anonymous email provider doing encryption on server side or using some "master email client" on a strangers computer? Who would use such an email service? The same goes for masternodes. If you cant do mixing on a client side, forget it.