Character meals are a benefit if you want to meet certain characters but don't feel like hunting them down or waiting in line at the parks. When you go to a character meal, there will be several characters that are (almost) guaranteed to meet you or interact with you. It's a good opportunity to get autographs and pics. In addition, character meals usually have very kid-friendly settings and child-friendly food options (most of them are all-you-can-eat), which makes them good table service options for most younger children.
I don't really do character meals anymore, but I can see the appeal. You have to eat somewhere, and if someone in your party really likes the characters, it's a way to take care of both needs at the same time.