Almost completely ignored in North America, Sega's 8-bit console enjoyed a fair amount of popularity in Europe, and possibly still reigns as Brazil's most popular console ever. Most NES games are not on the Master System, and vice versa. Most Master System games are either first party, or ports of European computer games.
The library's pretty thin, but the stand-outs are all highly recommended, and there are some curious responses to NES games.