Does the reputation of your PhD subfield program really matter?

[prospectiveafricanist]

I was fortunate enough to be accepted to an excellent university for a PhD in a humanities subject. This university recently added my sub field - lets say north african history - only two years ago. Both of the advisors are great and hold a high stature in the subfield. But the program is not known for this sub field 

 

 

Thus, would attending such a university harm my job prospects relative to attending a more established program in my sub field? Keep in mind, the professors at this school hold some sway in the field.