What if we take WitEden SQ224
and swap inner and outer layers, will we get Master Square-1?
Does it mean that Master Square-1 and WitEden_SQ224 are
the same from solving point of view?
No. Your analogy is good, but the Master square-1 is based on a hexadecagonal prism, NOT a dodecagonal prism. Therefore, they would scramble completely differently. In fact, the puzzle you suggested would behave exactly like the Square-2XP.