That’s a subjective question - depending on what you need from a packaged account.
I’ve been a Premium subscriber since its launch in 2020 and I’ve never had to use the Travel Insurance yet, thankfully. Used airport lounge discounted access a lot and I’ve used the mobile insurance (kids cracked iPhone screen) once which went fairly well.
Love the extra interest (1.5% up to £2K) and use Virtual Cards to death as pseudo-contactless cards for the kids.
I think it’s OK in general, but should have breakdown insurance included too - that’s available as an offer from the RAC for an extra £4.49 per month through the Monzo Offers (Offers require a Plus/Premium subscription)
FlexPlus is arguably the “gold standard” when it comes to packaged accounts. Of course, the value comes from whether you want or need its benefits. Aside from that, from my reading online, lots of folk have great experiences and outcomes if they need to claim against travel or mobile insurance, or the breakdown cover.
There’s also the world of premium accounts, depending on your circumstances, but their benefits tend to be more in the form of offers/rates or enhanced help and service.