Am I wasting my parents money

okay, hear me out
everybody has to start somewhere. for you, its making covers. for others, its writing cheesy lyrics. i don't know much about music myself. but. i do know that some of the most successful music artists in the world don't write their own songs. they LITERALLY sing songs made for them by other people, and make millions.
you are NOT just a 'hobbyist'. judging by how much you enjoy this and how much effort you put into it, i am positive that this could definitely become a major part of your career. you are CREATING. even if the lyrics are written by someone else, you are expressing the songs in your own, unique, amazing way.
your parents are helping you CREATE. god, i DREAM about parents like yours, who let you pursue your interests. you should not feel guilty AT ALL. you have amazing parents. my parents have more than enough money, and they blatantly refuse to invest in me. money is money. but your happiness - your happiness, your energy, your creation means so much more than some paper that can buy you 5 seconds of a nice taste in your mouth.
you might find, that this hobby of yours grows into something much, much bigger. and then, you will pay back your parents 100x more than what they gave you. and if it doesn't, you will still DEFINITELY be able to repay those 300 pounds with whatever career you choose, and give them the time they gave you.
So,don't worry about this.

I love music. It’s entertaining, relatable, and I feel things with music that I don’t feel with other formats such as books movies etc.
Because I love music so much I make covers of my favourite artists. I like hearing my voice and my performance through my headphones. In fact it makes me feel like a music artist myself.
Before I used to just sing over the original instrumentals but recently I’ve been using my old acoustic guitar and a headset microphone along with MIDI drums so I can recreate the instrumentals myself. I’ve done this with a couple of songs and it feels unbelievably fulfilling when I recreate a song and it sounds even better than I wanted it to — all in BandLab. I also enjoy making demos of stuff and listening them while I’m walking to school or to the gym.
With Christmas round the corner, I decided to ask my parents for some music equipment. Specifically the AT2035 condenser microphone, the Focusrite Scarlett Solo Gen 3 audio interface and the AKAI Professional MPK 3 Mini midi controller. We’re not the most well off financially, but my parents were happy to oblige, pleased with the idea of me making music as a hobby.
My friend group consists of a few guitar players, so I’m hoping I could borrow an electric guitar so I can use them in my music, or even jam together.
I’m not sure if I’m wasting my parents time and money for silly covers. I have basic guitar knowledge and I know how to do chords (though i do plan on learning more advanced guitar skills). However I don’t know if all this equipment is overkill for a hobbyist making covers. I do plan on writing my own music one day. I don’t think it’s very cheap — about £300 in total. The guilt is slightly overwhelming, especially when my mother looks at bills and accounts monthly and barely manages to get it together. I really would like this equipment, but at the same time, I’m not sure if it’s too much for my current musical knowledge.