Hi Aaron!
Thank you for bringing your question to the Disney Parks Moms Panel!
This is tough to answer because I love having Memory Maker on our trips.
Some of the character meal locations do offer photos that will be included on your Memory Maker. They are usually staged before you eat, however, and don't include the character interactions at your table.
If you plan to get your family to stop a lot for photos while you are in the park, then I do think it's worth it. It's often hard to get a picture with everyone in it, and this is the perfect way to capture just that. The Memory Maker also includes the ride photos of everyone in your party, so those are also great to have!
If your budget is already stretched to the limit, then you may choose to skip it. But, I do think you will find it to be worth the money if you buy it.
Another reason to consider purchasing it is if you think this may be the only trip to Walt Disney World your family takes for many years. The memories and photos will be priceless.
Here is some more information about the Memory Maker. I hope this helps, and please let me know if you have any other questions.