Eh, overpriced mediocre food, crowded, and waiters with fake French accents don't really move me.
Yes, the location is desirable, outdoors overlooking the Strip and the Bellagio water show. On nice days expect waits for outside to be over an hour as we found out (we left and came back the next day for a shorter wait). Even with the wait they give you buzzers with a decent range so you can go to the bar or play some slot machines while you wait.
Food was mixed at the table. The two of us with salads (a chopped and a spinach) were both dry. Across the table there were raves for the french onion soup and the escargot. Glasses of wine all around but it was mainly house wine.
Service was a little slow, maybe because it was so crowded. The waiter did speak with a pushed-on fake accent which got to be a little more than just a bit annoying at the end.
If not so crowded it would be a great place to sit outside and have a glass of wine and nicer appetizers than typical bar food.