[ginger_beer_m]

I did an Msc in Bioinformatics before continuing to a PhD in CS. I'd say that your assessment is largely correct. In general, I'd advise anyone to go into a CS masters. You can always jump to a bioinformatics job without much difficulty, but the opposite move isn't always true. The other replies have also noted that there's a lot of bioinformaticians who are basically scripters. Their jobs consist of running ad-hoc analysis scripts for other people. It's okay but not the most rewarding in terms of job satisfactions, because of point (4) in your post. The other posted who mentioned that the source of funding often comes from short-term grants is also correct in my experience. This means your job tend to be low-paid and last only as long as the grant duration. Altogether I must say, if you're happy in data science stuff, stay where you are. I'm making the move out from bioinformatics as well.