This paper evaluates the performance of multi-user massive multiple-input multiple-output (MIMO) systems in which the base station is equipped with a dynamic metasurface antenna (DMA). Due to the physical implementation of DMAs, conventional models widely-used in MIMO are no longer valid, and electromagnetic phenomena such as mutual coupling, insertion losses and reflections inside the waveguides need to be considered. Hence, starting from a recently proposed electromagnetic model for DMAs, we formulate a zero-forcing optimization problem, yielding an unconstrained objective function with known gradient. The performance is compared with that of full-digital and hybrid massive MIMO, focusing on the impact of insertion losses and mutual coupling.