I think the answer of this question will differ from person to person. For some people, the money is well worth it, and I think people give fine reasons for that.
For others, it's too much of a gamble, and for even more others, it's a matter of financial constraints, the list goes on.
I will say spending 250 dollars on a game that isn't out yet seems a tad hasty to me, but that's just my opinion. It's a wildly subjective issue.
"TSW will be running for at least thirty years."
As someone who has:
spent WAY more than $265 on WoW since release
Had the lifetimenight membership of LotR:Online
bought the SWTOR CE
going to buy GW2 CE
I think the Grandmaster package is fully worth it. The 10% masters discount to the item mall is a nice bonus as well.
I believe many who plonked down the dough for the grandmaster package have:
1) been playing lots of MMOs for a long time
2) has been following the progress of TSW
I have followed developments on TSW for a little over 2 years, been lurking much in the forums too. However, I haven't got a long attention span for MMOs. Was on RIFT for 1.5 months, then on SWTOR for 2 months. Both are rather good in their own ways, but I somehow didn't feel compelled to continue...
As much as I want to believe that TSW would set a new benchmark for how a modern day MMO should be, going for the grandmaster package right now would be a little too early a decision to make. Perhaps I would be in a better position to consider the grandmaster if I can get past 3 full months of play without getting bored.
Furthermore, for that price, I was hoping that Funcom would include memorabilia like an artbook, or soundtrack, or even a full documentary film on DVD. I mean, with so much time spent in developing and promoting TSW, I'm sure the developers would want to share their insights and their artwork, all of which are contents that fans would really appreciate.
I do agree with ScopeTCR that it is probably a 'Support the Devs' package, but perhaps including a few more real-world merchandise in it would have tilted the decision scale for many here.
I am still interested Funcom has proven to long-time commit to their games with AO and AoC. But as many said, I would be a bit to much of a gamble, or better simply unreasonable to buy the lifetime now. I"ll decide within the first month of play if I am going for it. No additional benefits in getting it pre-launch or before NDA liift/beta weekends. And I really hope they sort out their currency issues till then, if it stays in Euro I will most likely pass...