Definitely not a waste of money, specially under COVID circumstances.
No one knows what IRCC will do next. What if starting next week IRCC reduces the fortnightly draws to 1,500 ITAs? What would you say to that person who you advised to not retake IELTS? People should stop pretending they actually know what's going on with IRCC.
My only piece of advice is: always, ALWAYS, try to improve your score, until the day you get your ITA (or even after that, since I already knew some people who got rejected for very stupid mistakes while submitting their applications, and had to reenter the pool months later)