The Chair Lift is a very unique attraction at a water park. Not only does it save your legs walking up the side of the mountain to ride the slides, you get a great view of the park on the way up. The only downside, is the wait. Expect 30 - 60 minute waits to ride.
If the line is more than 15 minutes long, it's probably not worth the wait for a slow ride up to the top (though it is certainly a pleasant ride). More than anything, the chair lift adds to the exquisite theming of Blizzard Beach. It's cool that it's there, even if you don't use it.
The line for the lift tends to be pretty long - if you really don't want to climb, then wait it out. If you're able to climb pretty easily, it's not too bad. The lift itself is nice and smooth.