Masters Swimming: Pros and Cons?

Any thoughts more than welcome!

Been swimming for a little over a year, trying to continuously improve, and want to try to figure out if masters swimming is something I should explore. Here are some pros and cons I could think of, please let me know what I am missing and what your recommendations would be. Thanks!

Pros:
-actual coaching will make me actually better
-team spirit and all that jazz

-organized workouts will have greater variety/intent than what I can do on my own

Cons:
-most clubs seem to have a 5 or 6 am start, does this eventually start to drag? I tend to swim after work now, and does starting your day with a hard swim make it harder to get through the day?

-money! many clubs seem to have relatively steep dues, do you think this cost is worth it? seems like you are paying to swim with busy lanes at the worst time?

-my current skill level: most of my work outs are just 1500 m due to time, and it seems like it will be a hard jump up to an hour or more of organized swim