I don't think it will hurt your chances of getting into a decent program...it might be damaging when some of the big academic programs are doing their initial screening for interviews, but if you do a fourth year sub-I and really really do well and get a phenomenal letter of recommendation, then you can totally build up your app. Just make sure you do a sub-I that you feel you will do very well in and have a strong faculty member to write you a letter. let them know from the beginning that you would like them to write a letter for you at the end (make sure you do the sub-I as early as possible, july is always good) so that they watch for things that they can write about...and work your butt off!!!!!!! sometimes its better to have a sub-I where you're the only fourth year around, sometimes not, it depends on the other fourth year;-)
so don't lose heart...there's still time!
😉
good luck!