I used to live in So CA and had a season pass to Disneyland, so I started taking my daughter there before she was a year old. I thought it would be a complete waste of money, but the people in my playgroup, many of whom were homeschoolers and went regularly with their younger as well as older children, convinced me otherwise. Basically, she could ride on a lot of the rides with me, there were no restrictions for the fairytale based rides. At that age she didn't get a whole lot out of it, other than he was always one to enjoy being carried forward facing in a sling and just observing, and it would calm her down the way being in the house would not.
By 16 months, though, I do feel like she could enjoy it more. Now the rides are not that interesting to me, some of them are loud and lights flash and I didn't particularly enjoy them, but there were some that were more lowkey that my daughter liked. So we rode various rides, saw different shows (the country bears, the tiki room), ate ice cream, saw horses, watched a parade, played in the water jets, bought a toy, rode out on a boat in the lagoon where she threw her sippy cup over the edge and took great pleasure in seeing it float away until she wanted it back again. I think what she liked most, though, was just the opportunity to see and experience different things, be around other children, etc. It's visually interesting, I let her walk around at times, there were different pathways and things she enjoyed walking on, steps and curbs to climb, etc. Heck, she liked the parking garage too.
I also carried her in the sling at times if she was tired and just wanted to ride and maybe nap.
So I think if you think that you two will get something out of it, then it's worth it, and it might be new and different for her, but that may not be worth the money to you.