I think it's worth it, especially if you aren't keen on doing a bungy jump - it's kind of the next best thing.
Unlike a bungy jump you aren't tied by your feet so you freefall upright and it's not as fast as the guide ropes slow you down a little. You also don't bounce at the bottom.
Having said that, if you are really keen on bungy jumping you may be dissapointed because it's not the same. Goto Huka Falls near Taupo or just out of Queenstown to do some of the best ones in NZ