Is this a Camilla worth investing

If you're going to 5* merge her, in most cases you can get started using any IVs. Exception would be something like trying to get started with -atk Caeda or Felicia. The unit will struggle to function until you get away from the bane unless you have multiple atk buffs. You can still do it, but the unit won't be very useful at the beginning of the merging process.

Build her up now and then merge with whatever else you get while you wait for the perfect one. I've got a +9 Cordelia and I'm still waiting on the right IVs but she's still excellent.