The level of waste will depend on what happens next.
If they sell everything off cheap then yes, wasted money
If they reinstall it in something more modern like a class 379 (and it actually works) then less of a waste.
For clarity, I have no idea what will happen to the unused diesel generators, (or the 379s) although that is for a different speculative thread.
One thing appears clear, without turbos transferred from Thames Valley and North Downs, I have no idea how GWR will solve the short formed trains crisis in the west.
Regardless of what can be re-used, there will still be a considerable amount of wastage in this. Compared to Northerns, or TfWs 769s, you have to remember that these had a full scale repaint, refurbishment, air cooling, External CCTV cameras & associated cab modifications, a bespoke bluetooth system for multiple working, cab modifications to appease the unions and all the associated kit to run them as Tri-Mode units over Northerns (which remains essentially a duel voltage unit) and TfWs more basic DC version. And that's all Porterbrook's money. Then there's the modifications made to Network Rail infrastructure, new signage, platform upgrades specifically for the 769s, signalling upgrades, platform extensions etc. All in all, while some components may be able to be used elsewhere, quite a bit of it wont. And we've already seen promise of re-using bits from the refurbished 442s in the rebuilt 458s, which look to face the same fate as the 442s did.
The GU's will likely find use elsewhere, but again the bespoke components designed to make it power the 769 wont be!