Metal-semiconductor field-effect transistors (MESFETs) are widely known from opaque high-speed GaAs or high-power SiC and GaN technology. For the emerging field of transparent electronics, only metal-insulator-semiconductor field-effect transistors (MISFETs) were considered so far. This article reviews the progress of high-performance MESFETs in oxide electronics and reflects the recent advances of this technique towards transparent MESFET circuitry. We discuss design prospects as well as limitations regarding device performance, reliability and stability. The presented ZnO-based MESFETs and inverters have superior properties compared to MISFETs, i.e., high channel mobilities and on/off-ratios, high gain, and low uncertainty level at comparatively low operating voltages. This makes them a promising approach for future low-cost transparent electronics.