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Got it.
No, sorry, it would not. You have some of the basic building blocks... but you need sources of modulation (LFOs, envelope generators) and more basic utilities.
Also, it's worth noting that all of these modules except the Wasp filter are now out of production. There are knock-off versions available, of course (except for Beads)... but you may find it hard to buy these if you're looking for actual Mutable modules.
I agree that more utilities are probably necessary (i.e., power if you're not using a powered case) or very desirable. Definitely an envelope (dual+ if possible - that way you can control amp and filter envelope independently) and a standalone LFO (i.e., not Pamela's NW). A slew limiter could be very nice as well. A Make Noise Maths or Befaco Rampage will give you LFO + slew limiter (and lots of other things) in one package, but you're rather limited in terms of waveforms. You can use a lowpass VCF to modulate the LFO though, so not a dealbreaker.
The biggest gap to me is: how are you planning to trigger notes? If you're using a keyboard or other controller that doesn't have CV outs (i.e., just MIDI or USB), you'll of course need a MIDI to CV converter. If you're planning on using software to sequence/trigger notes, you'll need an audio interface (like a MOTU), which doesn't need to be in your rack and can be beneficial to leave outside (more space + power for fun modules )
Honestly, unless you're using a sequencer module, you can probably ditch Pamela's NW - an Arturia KeyStep Pro, for instance, is both a keyboard and a clocked sequencer with CV outs that only costs about $100 more than Pam's alone. So you'd be getting all the "core" functionality you need for almost certainly cheaper than Pam's + a sequencer module - many sequencers are more expensive than a KeyStep Pro by themselves, and they usually take up a ton of room.
On the topic of leaving some stuff out of the rack, you can definitely do that with effects processors as well. I see you have Beads, which is very cool, but if you add a 1/4" audio out utility, that opens up the possibility of using many very nice desktop effects units (like a Strymon BigSky). Eurorack obviously has tons of great effects units, but there are a LOT outside of Eurorack as well. The tradeoff there is that you have less CV control options, but in my experience at least, effects units are more often tweaked by hand than by CV. Just something to consider in case you want to mix and match.
One point - none of these modules have been discontinued.
Plaits is an amazing oscillator - I would argue one of the best for a beginner as it's very versatile and fairly easy to use, with just enough learning curve to get you used to the "funkiness" of Eurorack.
The Wasp is an awesome filter, especially for more aggressive/acid-type sounds. That being said, you'll be pretty limited to those kinds of sounds - it's doesn't do smooth well. One very affordable option that can give both smooth and aggressive sounds is a Behringer 121 - I have not used it personally, but I've heard several demos and (to me) the sound and functionality are very impressive (esp. for the price).
Two ideas that could help you refine further: (1), look at the setups of simple modular systems that produce sounds you like on YouTube and use them as starting points; (2), give VCV Rack a try. It's a free, open-source eurorack system for the computer, and it has exact replicas of most Mutable devices (so you could test/play around with Plaits and Beads for free - they're digital, so the "guts" are identical on a module or on a computer). If you do go the VCV Rack route, try setting the audio sample rate to 96khz and adjust the buffer as needed; it makes a big difference in the sound of the Mutable modules :)
Anyways, super long response, but hopefully helpful. Have fun with your system!
Just that? It's not even implemented properly to just be a synthesizer, not to mention generative work. You're missing a LOT of what needs to be in there...and ironically, there's NO modulation and NO timing aside of Pam's...which, perversely, has pretty much nothing to do here. Given the amount of control signals and control modifiers needed to make generative work, you're already in trouble with just one 3U skiff.
Jomo's advice regarding VCV Rack is probably your best bet for figuring out the what/how/whys of generative. These tend to require either very dense functionality per module, massive amounts of modulation generation and manipulation, or both. Also, timing signals get messed with quite often, with one of the requisites being some Boolean logic to (ab)use the timing signals to make other timing signals, etc etc. The only caveat I'd give about VCV is that it can get pretty piggy about resources, so it's best to run it with as little as possible going on besides it.
One other bit of advice regarding Mutable clones...if you're going to use those instead of actual Mutable modules, examine them closely to see if you see any possible ergonomics issues. One gripe that many have with these is that the knobs get so tiny and so densely-packed that you need to turn them with a pair of tweezers, or damn close to that. But seriously, that's an important consideration...you DON'T want controls that'll see lots of manual tweaking (such as VCF cutoffs) being made hard to use. Plus, keep in mind that the patchcord rat's-nest (generative programming DEFINITELY causes those) will also be obscuring those controls as well.