WE camped there may years ago and drove through since it has re-opened. For the cost it is not really a $50+ night campground. But if you are going to Carowinds you can't beat the location. If you take the shuttle you won't have to pay to park, so factor that into your decision.
The amusement park itself has a section for smaller kids. There are boats, cars, mini roller coaster, swings, 2 different types of airplanes, train and carousel. In the waterpark, there are two splash areas as well as a pool designated for the little ones. 0' entry up to 3 feet with waterfalls and bubblers.
I would take my son when he was 18 months and there was plenty to keep us entertained.
2010 Jayco Eagle 313RKS