Yes and no, depending on what appeals to you most and how much you can eat. If you're willing to pay and can afford the price then why not? I mean walking around eating as much as you want with so few people there that you can ride everything, what's not to like?
If you're looking for a reason not to go, then it would be the following. However much you eat and drink, you're still losing money on the food and drink side. Universal (and any other park) make a killing on food and drink. You don't even want to know what that $5 donut actually costs, just enjoy it. So when you don't have to pay (because it's included in the ticket cost) you may go around keeping track of how much that would have cost you if you've paid for every purchase, it will come to a lot. That amount is nowhere near what the food actually cost, it's an inflated cost and chances are you're eating a lot of it for the sake of it.
Not trying to put you off, again if you can afford it then go for it. It's more that if you're on a budget and it's tempting you and yet you'll struggle to afford it, the above paragraph is a way out for you. Yes you're undoubtedly getting more food for the cost than if you paid for all those items, but again remember those aren't the real costs but hugely inflated theme park food costs.
It's similar to the special events at Disney where food is included, seems a good deal on the surface but if you really think about it you realise you're basing the value on already inflated costs. If you've allocated the money already an can afford it, then go for it and walk around eating, drinking and riding rides and forget about what the parks paid for the food and just enjoy the splurge.
