//It depends whether you’re willing to pander to the sensitivities of such a small minority. //
If the only reason not to do it is not to be seen to pander to some people's sensitivities then I would say that is not a good reason. There are other, more practical reasons not to change things and I believe that in the cases I work with they outweigh the perceived benefits.
// Incredible as it may appear to them, eradicating the phrase “master/slave” from our vocabulary will not expunge the practice of slavery from history. If that’s not what the malcontents are trying to achieve, just why are they taking such a stance? //
This is about the long and short of the view of those that want change:
"Research has shown that the use of the word “slave” evokes strong feelings of degradation and human rights issues. It carries with it the association to the brutal and dehumanizing institution of slavery. Even though in the usage of the term for electronic circuits there is no implied offense, the term harbors racist views. It evokes images of times past and by continuing the use of the language today, it gives credence to the idea that it is okay to continue such relationships; therefore it still has power. To that end, I envision nothing but a positive effect in the industry if the term is eliminated."
From
https://www.eetimes.com/its-time-for-ieee-to-retire-master-slave/