What the pass covers
The Osaka Amazing Pass (available in 1-day and 2-day versions) covers unlimited rides on Osaka Metro subway lines and most city buses, plus free entry to a rotating list of attractions including Osaka Castle's main tower, the Umeda Sky Building Floating Garden Observatory, and a number of smaller museums and boat cruises. The exact list of included attractions varies and is updated periodically, so checking the current version on the official Osaka Info site before buying matters more than any fixed list in this guide.
The honest calculation
The pass earns its price on a day where you actually use it — and that requires both a substantial amount of subway riding AND entry to at least two or three of the included paid attractions. A day mostly spent walking one neighbourhood, or a day where your headline attraction (Universal Studios Japan, Kaiyukan Aquarium) is NOT included in the pass, may leave you having paid for a pass you barely used.
When it's clearly worth it
A day that includes Osaka Castle (one of the most-visited paid attractions that the pass covers), at least two or three other included spots, and multiple subway hops across the city is a strong day for the pass. If you're doing this kind of packed, multi-attraction day, the maths usually work out. If you're not, a pay-per-ride IC card is simpler and often cheaper.
Where to buy it
The pass is available at Osaka Metro station offices and tourist information centres, including at Kansai Airport. It is not covered by or interchangeable with JR rail passes.
USJ and Kaiyukan, the two attractions most first-time visitors prioritise, are not included in the Amazing Pass — the pass's included list leans toward smaller cultural sites and observation decks rather than the headline theme parks.