Should I ditch this? 🙁It will be enough wattage at face value yes. But Insignia are very poor quality PSUs from history. So whether it will sustainably supply the wattage it SAYS it will output, and protect your components if anything goes wrong, that's up for debate.
Serious question:I can't say I can speak for this particular PSU - but from history, I've never known a good Insignia PSU - they're a cheaply made Chinese unit owned by Best Buy. Yikes.
If you have the budget and are able to, personally I would get a better PSU - it's the one item you should never go cheap on. And a well built, reputable PSU will at least mean you can rest easy knowing your computer is safe should anything go wrong.