If you have fun, it's totally worth the $2.20 investment. Heck, it's probably worth the $11 if you enjoy it.
Just keep in mind that this event will have a bazillion players, many of which play really stupid. So there are going to be a *ton* of bad beats. Like Oneboubon said, it's like a huge freeroll.
When you get a lot of aggressive schmucks playing against a lot of aggressive schmucks, they knock each other out, but their chips merge to make mega-schmucks with huge stacks of chips. And really, if you have a ton of chips you're an imposing foe no matter how bad you play.
But man... winning would be awesome, and quite a payoff for a $2.20 investment.