I was rejected from the NYU PhD program, but invited to apply to a master's program. Why?

I am currently an undergraduate, and I knew it was ambitious to apply to a PhD straight out of college. As expected, I was not accepted into the PhD program in Comparative Literature, but I was invited to apply to the Master's in Literary Studies by simply writing a new statement. It says I was one of the few selected to do this. Should I do this?