The expansion quad-pack, the all-questpacks-pack and helms deep are completely independent items, so yes, to get all the content you'd have to buy them all. Note that VIP includes access to the non-expansion quest packs, so as long as you're VIP you don't need the $80 item. Also all content (except for HD at this time) can be obtained with TP which can be earned in-game or bought with cash (and as VIP you get 500 each month). So the $160 pricetag only applies if you want to buy all content with cash, in theory you can get it all for free as well (spending lots of time grinding TP).
There isn't a real benefit to buying the expansions now instead of waiting until you actually need them, unless you want to start a runekeeper or warden character.
As for wether the content is worth that amount of money, well, nobody but you can answer that.
Used to play: 85 Champ / Captain / Runekeeper / Guardian, Guild Master of everything but cooking.
Playing now: Hellcat / King Tiger / GW Panther / IS / KV-5 / M4 Sherman and more