Brazil, Paraguay and Argentina

Seems it is an old post, but to answer you, yes there are things to do. Number 1 is of course the Falls. 273 falls in one area. Trails and boat rides in the National Park. There is a bird park just outside the Falls' entrance and nice to walk and great photos of tropical birds and animals.
The Falls is the main attraction but there are other places.
CdE, PY is across the river from Foz Asuncion is about an 8 hour drive. .Many buses do go to Asuncion.
Puerto Iguazu, AR is again right across the river.
Many come to Foz and see the BR side of the Falls and then go to the AR side to see the AR Falls side.
Many go to CdE, PY for shopping and the traffic can be long and take up to 4 hours one way by car. Some walk over.