Ummm if you have a spare $500 to throw away, yeah, sure do it.
I had to lol at this comment as I had the similar view after I Mason was taken on by an agency when he was 2. That company went bust after a month and we lost our money and after that I decided not to pursue it, once bitten, twice shy so to speak. Mason also didn't like the photographer very much at all (big man, beard, not really kid friendly ) and it took 2 hours for him to get game enough to come and sit on the chair for his photos. I was ready to go home as I felt like I was being a pushy parent for inflicting this on him and this wasn't even a casting call!

How would you feel after paying for this and your child refusing to co-operate and having a tantrum?

BUT the pictures that were taken have pride of place on my wall. I had the 8 mugshots printed up and framed as we got a copy on CD and I love them.
I have in the past paid $400 at pixiphoto and like these portfolio shots more than the pixi ones.

So I would say that if you want to give it a go, make sure for one you get a copy of the pictures taken as that is a big part of the listing fee (it pays the photographer) and go into it with the attitude that you might not get work and then you won't be disappointed.