would it be possible for a player to master all the skills in the game? (assuming their race does not hinder them in doing so)
With enough time almost anything is possible. I would imagine with the way PSpeed has described the game with time and luck you could "master" the game. From what I remember higher skill require rare items or rare occurrences to further that ability.
But, ebag, something you should remember is where the game is and where it needs to be in the near term future. Most of these question are speculation for a much later date. You would be better of asking about how the physics system and possibly combat and networking system will be like in the near future.