One person basically deciding who gets to attend, or actually ruling out 940 people, is actually pretty normal in modern society. If you look at other programs like an MBA, one person eliminates more than that many people.
Almost no one wants to get an MFA. The same 1000 people apply to all the top programs. You cannot make money off of writing. All of these programs have like 4 fiction teachers and only one to four people deciding who gets in. Where you go for an MFA doesn’t matter at much as you perceive. It is just the next step before you, so it seems like this is all there is. After you get an MFA, you will discover that most graduates from Iowa MFA end up high school English teachers and are never published.
If you don’t have an undergrad degree, most likely you won’t learn much at an MFA school. Shakespeare didn’t go to university, and maybe you don’t need to either, but most likely your best road is to go to an undergrad school before an MFA.
I used to think it was degrading to go to community college when you’re old, but I now believe that the classes at community college aren’t all that different from the classes at schools hard to get into. They try to build the syllabus to cover a range of levels. They give you as much to read as you want.