On the other hand, if you actually enjoy what you're studying and have any reasonable amount of skill in something else (as many humanities majors who read HN probably do), then graduate school can be fantastic. You want to use computers to solve problems, but unless you're a low-level systems programmer or a CS researcher, you'll need some specific thing to make websites or computer programs about. School is great for that.
Last year I finished my MA in classical Chinese literature. The problems of OCR'ing, transcribing, and translating Chinese are enormously interesting. Even simply trying to present digitized versions of ancient Chinese texts is difficult (no one told Confucius that only so many characters would be in the Unicode standard). I got a lot of attention (and should have productized it) by making free information available in a more convenient way with a simple Rails app. There's a huge gap in the field for a young grad student who wanted to digitize information, present it attractively, and sell it back to libraries or individual researchers. And these gaps exist in most traditional humanities fields.
Aside: I went to UW, which has the most rigorous Chinese lit. program outside of China. Obviously don't go to graduate school in the Humanities at a school that is only theory--you're probably smart and coherent enough to make your way through it without really learning anything--go somewhere that has a difficult program where you learn linguistics, philology, or serious history. I also got all of tuition, a nice stipend, and optional health insurance by doing some PHP programming for a lab at the school--don't go into serious debt for a masters in the humanities.