We did VIP and I'm torn on this. The key benefits of VIP are
-early access to pre-show activities
-better seating
-first tables to go to the buffet
-free adult beverages (don't bother with the punch they give you when you walk in. Just go to the bar)
-an upgraded shell lei or kukui nut necklace
We are not big on alcohol though some of us did enjoy a couple drinks. If you think you will take advantage of the open bar then it is very likely "worth it". Our table was great- on the center aisle one table back from the front and we very much enjoyed that but I don't feel like the 'standard' tables would have been that bad. I did not feel that the activities were overly crowded even once the non-VIP guests were admitted so that benefit was "meh" to me. I don't know if our show was sold out (there were a few empty seats and definitely room for them to have set up more tables so perhaps not) so its possible they weren't full and things would be different if they were. They definitely don't run out of food so getting to go the buffet first also didn't seem essential. The nicer necklaces are lovely but again, not an essential.
So I think it comes down to if you plan to enjoy a few drinks and whether or not its important to you to be assured you will have really good seating. It might depend also on how many are in your party and what the total cost difference is for regular vs VIP for your group.