Lorewise there absolutely are Chaotic strategists and planners- even Slaanesh, of all things, has fluff for masterful strategists that implies they're better at it than everyone else.
So what we have is a case of the turncoats that sold their souls for power in lore not having power in gameplay, having none of the options the ancient traitors should have in gameplay, not particularly having enough to justify using them to represent the lore for turncoats in gameplay...
The only CSM the codex entries currently represent accurately are the red corsairs- and that's because the red corsairs are a warband of unfiltered cannon fodder that have a lot of members objectively worse than loyalists! And even there they're missing the chaos apothecaries and anything higher in the food chain than aspiring champions, AND all their cannon fodder to boot.
If you're not playing a daemon-heavy army, the question is why not use loyalist rules to represent traitor marines? Certainly not for fluff accuracy.
How do you mean "Chapter Master equivalents?"
If you mean in terms of fluff, absolutely not.
If you mean in terms of mechanics, someone who can go toe to toe with a Chapter Master? Maybe, however, that is as much an issue over relics and just how busted Space Marines are at the moment.
If you mean in terms of emphasising each Legion or whether they're a "mongrel" warband or something else, I would like that. For example; Warsmith (Iron Warriors), Harrowmaster (Alpha Legion), Flaymaster (Night Lords) to name a few are unique Leader designations for each faction. This theoretically could be your "Chapter Master" upgrade along with others as they've been used extensively pre and post Heresy.
More generally though, I don't really want all the upgrades/buffs of Space Marines, the inherent ones like transhuman physiology would be nice as they make sense, but I want Chaos to be their own thing. I want something different to represent their cults of personality and more selfish and self serving nature. The idea behind Space Marines is they work together as a cohesive force, becoming a force multiplier, Chaos is less this and more personal gain. I want that emphasised. I don't want disproportionate power though like it is now.
Iron Warriors are relatively disciplined, Word Bearers are supposed to be fanatical to an exceptional degree, and Alpha Legion are infamous for being disciplined.
Edited by Lucerne, 16 January 2020 - 01:07 AM.
"The Alpha Legion has- in spirit if not in body- remained much the same since its creation."
"Agents of stealth and misrule they may be, but when the Alpha Legion unleash their martial might, worlds shake at their tread."