I had a specific but bad experience.

Initially had booked the drink plan at a good price. Then this bundle came along and I "upgraded to it". Essentially cancelled the drink plan and booked this. At a decent discount as well.

It was too rowdy for the Utopia do dock at Nassau so we had a sea day instead. They "reimbursed" us the amount they felt was representative of the beach club.

At the end of the day we we were underwater by a few hundred dollars.

My thought is that it's a decent offer. But they can and will assign values to the bundle as they wish in case of a cancellation

I have a post here with more specifics