Depends on what you want to do, but as a painter, I found it a lot of fun and quite worthwhile. Figment is the festival's central character, and appears on lots of things. You pretty much have to like purple at this festival, because it's everywhere. Here's a Mickey hat from the Festival a few years back:
This is an Epcot festival, so most of it is the food and drink pavilions, which are like other festivals, but with more art-related items (things decorated like an artist would). The idea is that the food itself will be "works of art," and most of them really were. I didn't take any food pictures, so here's a picture from Disney Food Blog, which has an excellent page on the Festival:
There were special art-related activities, including where you help finish a big paint-by-number mural, meet artists, buy Disney and other art, listen to singers and groups (including a big Broadway series, though I don't know if that will be available in 2022). That's in addition to the regular Epcot music and programs.
What I liked best was attending classes in animation ("Animation Academy"), art, and music (in my case, the evolution of John Williams' movie scores). The classes filled up fast. Also talking to the artists (at least some of them) was fun. But be aware that some of the classes are really fast-paced, especially the ones where they have you draw/paint from live models; you have to be able to complete the tasks quickly and move on, not just linger to get something just the way you like it. Some of mine were completely unrecognizable.
But I still use the tips and tricks they taught there ("curved lines give life and motion to your drawing; here's how").
haha.