I'm sure others will chime in soon, but my immediate thought is that the closet is taking up prime corner space. Flipping the bathroom and closet would let you put in more windows in the bathroom. It would also allow you to add a door between the closet and laundry room, saving you steps when carrying clothes back and forth. If you do flip the closet and bathroom, you'll need to make sure your plumbing (at least your toilet) is not on the shared wall with your bed (unless you live alone). I would not want to be awakened in the middle of the night to the sounds of a flushing toilet behind my head.

My second thought is that I (and a lot of others) have no use for a freestanding tub in the master. Make sure you would really use it before spending a large amount of money and sacrificing a lot of space for it. We removed ours when we remodeled our bathroom several years ago, and are not including one in our new build.

Do you think if I flipped the bathroom and closet, I would loose closet space because I would have to add another door?

Yes, you would. Although perhaps you could add a pass through (a half height door) that would just be tall enough to shove a hamper back and forth between the rooms and still leave space above for hanging shirts and blouses?