The view is nice up this mini Eiffel Tower, but honestly the Vegas skyline isn't particularly beautiful compared with other, more gentrified cities. I feel like after you've looked at one hotel, you've looked at them all since they are all equally huge and box-shaped to fit as many rooms as they possibly can (read: not very interesting to look down on). If you're on a budget in Vegas, save your money and visit the restaurant in the Eiffel Tower, dress nicely, get a window seat and enjoy a much more fun view of Vegas - looking down the strip instead of the top of it.
I've also been up in the real Eiffel Tower and the Vegas version is a remarkable likeness, but then again, nothing like the real thing at the same time. This is sort of what Vegas is all about, a lot of fun and spectacle unless you look at things too closely - then it just seems lame.
I will say this though, going up at night is MUCH better and worth the extra $2 (Vegas is nothing without her neon lights shining brightly) and it's one of the cheaper attractions around town. Be warned though, like the real Eiffel Tower, it gets crazy crowded during high-tourist season.