The answer is "yes". This is part of what makes America (and the rest of the world) so rich compared to the past. A while ago I was looking to buy a small knife for the kitchen and I found a whole pack of them. The average cost of each knife was 60 cents. The meal you prepare with that knife is going to cost more than the knife itself. That just blew me away. Imagine showing this kind of wealth to somebody from the medieval period.

Food waste is fine though. It's a side effect of food being incredibly abundant. It is the only realistic mechanism to fight hunger. You want food to be so cheap and so readily available that people are willing to easily write it off.