I also applied to Munk, Oxford, LSE and King's College London (the last three were just long shots).
I had the same concerns about how new the MPPGA is, but UBC is well-recognized and it looks like there is the option for co-op. I was going to email the admin to see if they could clarify what type of placements are available, but from what I can see from LinkedIn (I was a bit curious what current students were up to...), students have worked at the Centre for Southeast Asia Research, Asia Pacific Foundation of Canada, and Inter-American Development Bank. I am not too familiar with these organizations, but they seem like decent positions? I like the idea of the Global Policy Project (GPP) too, but I haven't heard anything about it.
I also saw that last year's cohort was fairly small, which I thought was an advantage. However, I wonder if that is the same for next year's cohort or if they accepted more students this time.
As for the courses, others have mentioned that they may not have very much substance, but if they have decent co-op positions and GPP partners, it may still be worth it?
It's a tough call...I agree that it is a pretty expensive program!