My friend and I were considering it for our trip next week but looks like it might rain. Plus I'm not sure if the Dragon has been fixed yet, going to search or ask on the board.
Anyway, yes you are basically just buying the seat, and to be honest it's nice to have a guaranteed spot but it's very possible you may not get the greatest location, they all aren't great, ours were terrible last year. You can absolutely find a better spot and for free, paying just means you don't have to seek a spot hours before or deal with crowds. But you still need to show up early to reserve a good seat.