I'll post photos later but here is our take on cabanas after having been in one yesterday.
Yes, they are expensive but you do get your 16 beverages (and you can swap out for different stuff) - we had 8 waters, 2 pepsis, 2 diet pepsis, and 4 fruit punches. Swapped 2 fruit for pink lemonade. We don't drink soda but definitely went through the water. Great to have the frig and the included, very large locker right there. They also give you a large bottle of Panama Jack SPF 30 sunscreen and a bunch of towels, which can be replenished. They no longer take food orders but you can bring food back to cabanas. You get a VIP bracelet that entitles you to 20 percent off all food and drink plus merchandise purchases all day. If you want new oakleys, good way to get a good price on them. There are 3 cabana areas - 2 near Cutback Cove and one near Big Surf Shores. There is a smoking area near one of the areas near Cutback Cove so if you want to avoid, best to ask for Big Surf Shores. In our case, we were assigned an area ahead of time; thankfully it was on the Big Surf Shores side or I would have asked to move. Once we got to the assigned area, it was first come, first serve on the actual cabana. We got there before 9 am and were the first so got our choice. As for seating, we had 2 lounges, 2 beach chairs, and 2 regular chairs, plus a small table and trash can. Along the wave pool, they had extra beach chairs set up for any cabana occupant to use. No one other than cabana guests were allowed in the area, so it was very private and quiet. Staff were there to clear trash and food for you plus make sure others didn't come into the area.
As for if it is worth it, that will be a personal choice. We paid peak season rates, which are quite high. But, we loved the peace and quiet it provided (park was full), loved having our large locker right there, loved having a frig for our beverages, and loved the shade we had. We also liked the ceiling fan to cool things down and later, the light. We ate lunch in our cabana, which was great, and liked the location, near the wave pool, restrooms, and Mango Market. I doubt we would have stayed at the park as long as we did if we didn't have a cabana.
We also loved it when a HUGE storm blew in almost instantly and we were able to close up our cabana and ride it out while everyone else got soaked and had to jam into the few covered spaces they could find. I'll post photos of our closed up cabana too because it really was a huge storm with high winds and we managed to stay warm and mostly dry - we turned off the fan but used the light to make it "warm and cozy."
Would we do it again - probably unless we need to pinch pennies. But, on our comment card, we suggested that they (1) provide some snacks with the cabana (a few bags of chips), (2) bring back food service to the cabanas, and (3) include a few AB adult beverages too. I forgot to write that I also think they could give the cabana folks a few "front of the line" passes to make the stay even nicer as we had waits of over 45 minutes for almost every slide, even early in the morning.
Overall, we were very happy with our experience and want to go back. I think they allow too many folks in so the lines are huge during peak season but you can work around it by getting there really early (parking lots open at 8 when park opens at 9; some slides are open at 8:30 if you have purchased your tickets ahead of time), doing the no-line things mid-day, waiting out any storm you might get, and taking advantage of the park clearing a lot by 5 pm.
Photos later.