Being "worth it" is something only you can answer. For the extra cost, you get to sit in the first 2 rows of tables when we were there (New Year's). Since the tables are perpendicular to the stage, non-VIP tables start around halfway back into the lawn area. VIP also gets you in early so there's no lines for the activities. Big plus there. As for the alcohol, that's up to you. VIP tables are also allowed to get food first, but there's plenty to go around. The VIP tables also have wait staff that will get drinks for you--don't know if the non-VIP seats got that.
In our case, it was "worth it" because it was the only thing available on the date we could go.
In Disney fashion, the kid's food table is set lower so that the kids can get the food themselves. Some of the kids food looked better than the adult food--like the mac and cheese.