Today, it is primarily souvenir shops and restaurants . I recommend you go there for a few hours but avoid wasting the day there. There are some nice views, but the focus is to separate you from your money via shopping. Many tour boats leave from the wharf including the smooth Adventure Cat catamaran . It's a fun, crowded place to sightsee.
Most locals avoid the restaurants at the wharf like the plague.
There are much better places to get seafood in the City. The Wharf is one of the most expensive places to park in San Francisco. There is also a heavy load of auto congestion and pedestrian traffic. You should strongly consider a cab, cable car, or the bus . Meigg's wharf was always a spot for the fishing fleet, swimmers, and sunbathers.