I think (1) is sort of wrong. Many good/great composers do want to compose Bach-like music, and there's a subculture in the classical music world of them. What really stops people from building "masterpieces" in this way is the money. There's just no financial reason to do it.

On commissions, when you are charging $500/minute of symphonic music (a mid-market rate), you just can't write a minute of a Bach cantata and have it make financial sense. It takes a long time to develop the material for a big work of counterpoint like that, and even Bach didn't write his cantatas off of nothing - he was a working church organist, so he had plenty of time to try his new material (improvising at the organ during services) that was paid for.

Music has always been a business and there's no money in neo-Bach.