Yes, shows are included. Is it worth it? That’s a subjective answer. Some will say yes others no way. IMO, if you have an all inclusive ride pass and like the rides then yes. You could easily spend a few hours just on rides. Aside from that there just isn’t a whole lot there anymore. However, that’s coming from someone who growing up went 4-5 times a year but stopped about 15 years ago and now goes only once and not every year. Since you’ve never been I think you should go but with no expectations. No expectations = no disappointment.
If you do opt to go don’t miss the Superdogs show...make sure to get there a good 30 min early to get a seat. Also the ice show is pretty good. If you are there over Labour Day weekend there is also the Air Show in the afternoon but it goes on for a long time...I can’t remember exactly how long but more than an hour.
4-5 hours is a touch light on time...6 is better and the grounds don’t even open until 10am.