The following revision refers to this bug:
  https://chromium.googlesource.com/chromium/src.git/+/1a028fbffb2a321037ff2213b03418447998756d

commit 1a028fbffb2a321037ff2213b03418447998756d
Author: jochen <jochen@chromium.org>
Date: Mon Jun 27 16:50:38 2016

Only show the open link as user context menu if at least one of the profiles is open

R=pkasting@chromium.org
BUG= 623592 

Review-Url: https://codereview.chromium.org/2086333002
Cr-Commit-Position: refs/heads/master@{#402201}

[modify] https://crrev.com/1a028fbffb2a321037ff2213b03418447998756d/chrome/browser/renderer_context_menu/render_view_context_menu.cc
[modify] https://crrev.com/1a028fbffb2a321037ff2213b03418447998756d/chrome/browser/renderer_context_menu/render_view_context_menu_browsertest.cc

WHY HAVE YOU RUINED CHROME FOR ME! Okay, maybe that's exaggerating a bit, but I found this change initially confusing ("where did the menu go?") and now just frustrating each time I launch Chrome and haven't yet opened a browser window for a second profile. Would you share the rationale for this change? Thanks.

Haha. RUINED! :) 

There are a few more details here: 
https://bugs.chromium.org/p/chromium/issues/detail?id=624585#c4

Thanks for the added info. I disagree with the decision since I found the feature so useful. FWIW, I think UX that appears and disappears like this is more confusing. Then again, I'm not a UX expert so what do I know. Anyway, please put a coin in the "always visible!" tip jar or so help me, I'm switching back to Mosaic.