Thanks very much to everyone for your replies. A few responses:
Yes, this worries me somewhat, but I'm extrapolating based on (a) the placement records of other MA programs ranked below the one I'm considering, and ( the undergraduate placements of the program (which I realize are probably a less reliable guide).
That's the thing--it's not so much of a habit as it's a long-standing goal I promised myself I'd do just once in my life if for no other reason than to prove I could (primarily to myself, but not exclusively). I'm afraid not fulfilling it would leave me in perennial doubt about my intelligence (again, not because I'm attending the lower-ranked program, but because I didn't attend the type of program I set as my specific goal.) Maybe this is splitting hairs, but I just wanted to clarify that this is not really a "habit" as a one-time goal.
The MA program is 1 year, so it wouldn't add that much time. However, this in itself raises practical challenges with getting recommendations, etc.
No, in the humanities our work isn't completely dependent on faculty