Having lived 3 miles from it for the past 60 years I would say that it would fit the bill for a day out. I can recommend some excellent fish & chip places, there are slot machines galore, the seafront is nice and there is also a train ride up the pier or a walk for hail and hearty. Jamie Oliver and his mate are supposed to be taking over the cafe on the end of the pier. HW next New Years is about noon so get there in the morning and you won't see much mud either.
It's been pedestrianised in the last 5 years, and actually quite good. Enormously long walks available, and the Arches a nice place for breakfast.
Baileys Fish & Chips in new ownership for last 3 years and not as good as before. Sealnd a nice diversion, and as Roger says, the pier is a throwback to a bygone era.
RNLI lifeboat station to drop your excess money into right at the end of the pier.