No, because he incorporated the role this year, on and off the pitch.
That's why I am against it - this season
Mascherano - last seasons (plural)
A captain has the lead in difficult sitations.
Pique was (only) great when Barca was great - 1st treble season, 2010, this treble season
Mascherano was always reliable. Plus: He also showed that he can be a leader in the argentine team. Damn, he was captain in Argentina before Messi and if you watched the WC 2014 you could see that even though Messi was captain, Mascherano gave the motivational speech (I think it was at extra time break during the match against the Netherlands) so he still is the leader (together with messi if you want).
Also remember what Zubi said? "Everybody is talking about Xavi becoming a coach, but people are forgetting about Mascherano. He as the skills for it."
When you think about who shall be captain, imagine them being the coach. Vision, responsibility, picking up the team during tough situations. Duing this constantly and reliable over a period of many years - Pique or Mascherano? Pique? Over Mascherano? Really?
If you think this doesn't/shouldn't matter, you're missing a big part of what makes Barcelona different that most European clubs. But anyway, it's a hard pick between the two. IMHO, it should be Iniesta, Messi, Pique and Mascherano, but that's obviously not going to happen.
The captain should be the spokesmen of the coach on the pitch (that's how the Cruyff - Guardiola relationship got described by Pep or Cruyff, can't remember who but I guess one wouldn't argue against either of these two coaching legends and former Barca captains when it comes to this topic) and have the same characteristics of a coach. In recent years Barca had many Catalan/La Masia coaches, yes. But they had more non-Catalan coaches than Catalan coaches. Simply because sometimes the non-Catalan coaches were better. So why treat the question of who shall be 4th captain differently?