In a BDSM aspect, humiliation, degradation, dehumanization and objectification can be one and the same, because basically they are all interconnected in some way with one another.
One persons likes, may be another’s humiliation, while another may deem it to be degrading, and so on.

I do believe though that you can separate the differences and define them to a certain degree...
Humiliation and degradation can almost have the same meaning really.
Humiliation involves such a broad scope and is so open ended that you can not really define it correctly. It is what each individual perceives it to be. The word degradation has a much stronger tone and I would akin it to be the next step or level of humiliation.

Objectification and dehumanization can as well have the same meaning, but objectification is using another for their sexual attributes and denying their existence as a person with feelings and emotions. Dehumanization again is just a stronger word, but would be the next step after objectification.
Objectification would be using someone for your own self gratification, and while dehumanization runs along the same lines, I tend to see this as a longer drawn out process.

When I look at incorporating all of these into a BDSM relationship, I see it as a step by step process, starting first with humiliation and going from there.

I’ll give an example of humiliation started on a physical level, and progressing to a stronger experience.
Start with spanking, it can be fun, but to some a humiliating experience, progressing into face slapping, which may be a bit more humiliating, progressing again into spitting or urinating on the face, which may be degrading, and then dehumanizing by having strangers do these things to you, or being mocked by others while you are being humiliated.

I don’t know if this is the greatest example but it was the best I could think of.

As far as dynamics go, I cannot really say. A relationship will be strengthened or weakened depending on the level of trust, communication and how far someone is willing to push their own limits, and as well how much they enjoy those limits being pushed.

I consider myself to be a humiliation junkie. The more I experiment with it, the more I enjoy my limits being pushed. My perceptions of humiliation change with every different experience. As for a Dom’s perspective, I have no clue; I have never pondered nor asked what the significance or the experience is like.

I am looking forward to hearing more thoughts on this topic.