Club Med's only overwater bungalow resort in the world, Club Med Maldives is very popular among those who appreciate the style and sensibilities of this resort chain. The location fairly near the main airport means it's one of the fastest and easiest resorts to reach in the Maldives, and the diving and snorkeling in and near the lagoon are excellent.
The price is quite high compared to other 4-star water villa resorts in the Maldives, although for those who will be drinking a lot and taking advantage of most of the included activities, including the Sailing School, things should work out well enough. Many things that are included here are extra costs at other resorts, so it's hard to directly compare the value. This is a very popular resort, pulling in a very international crowd, but it's probably not a great option for a secluded honeymoon trip.
The Club Med Kani are quite good, so this does seem to do well for those who appreciate the distinctive Club Med style. Many are extremely impressed by the private-island setting as well as the rooms, the service, and the food. Some mention that there are many international guests who don’t speak English, so if this is a problem for you then that might be a negative here.
Overall it seems most important whether you are a Club Med person or not, as this is their only overwater villa resort in the world as of now (having closed their Bora Bora resort). The price is relatively high compared to many similar resorts so it doesn’t seem like great value on the surface, but the fact that almost everything is included in that price means that it should work out as a good deal for at least some people.