So I can't speak for every runner, but for the vast majority placing will not be a major factor. I ran a half marathon recently and came in something like 600th - but that number is largely academic I was only really competing against the clock.
That race had several thousand entrance, of which maybe 3 had a realistic chance of winning and another 10 of placing. The things that attract people to races are more likely to be the location (either somewhere convenient or somewhere nice to run), timing (how does it fit in with training) and prestige of the race.
Interesting the prestige of the race means your position is likely to be much worse. But distance races, people don't ask where you came, they ask how quickly you ran.
That race had several thousand entrance, of which maybe 3 had a realistic chance of winning and another 10 of placing. The things that attract people to races are more likely to be the location (either somewhere convenient or somewhere nice to run), timing (how does it fit in with training) and prestige of the race.
Interesting the prestige of the race means your position is likely to be much worse. But distance races, people don't ask where you came, they ask how quickly you ran.