E85 is a scam. MPG drops 25% and it costs the same per gallon, if not more.
Not a scam, but a tradeoff and personal decision if your ride can use it. Lose a few mpgs for typically less cost/gal and higher octane. If there's not a significant difference between premium price and E85, then it's probably not a good deal. But it still has its place where it makes sense.